Maybe, and yes. The date you bought and closed on the house may not be the date it became your primary residence. When did you move into the house? If you lived in the house, as your primary residence for 24 of the 60 months immediately preceding the sales date, you can exclude up to $500,000 of gain. And as Hal Al, just said, if you move due to relocation, you would be able to defer the $100,000 gain.
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