My wife & I lived together in two small, connected, adjacent homes. Both were simultaneously primary residences. We lived in both for more than the last five years. We sold one in 2019 with under $250,000 capital gains. We plan to sell the other in 2020 with less than $250,000 capital gains.
Since there can only be one primary residence, we can claim one as a primary residence in 2015 & 2016; the other, in 2017 & 2018.
Can we file jointly and claim the $250k + $250k exemptions in 2019 & 2020. If not, can we file MFS (single) for 2019 & 2020 and each claim the $250k + $250k exemptions. From what I've read in some places, either scenario is exempt from the requirement to sell the two homes at least two-years apart since we're not exceeding the $250k + 250k or $500k joint exemption. Thanks.
