Hellow ,
We are moving to Temecula, CA from El Cajon, CA. We plan to sell the current primary residence after living here for nearly 16 months and me and my wife file taxes jointly . However we also sold the previous property after living there for more than 3 years on December 2020. The current move and anticipated current property sale is because of job relocation. If we make capital gains out of the current property sale, can we exclude full amount allowed for capital gains up to $500,000 per couple or only partial exclusion is allowed and if so what is the formula?
