no there is always depreciation recapture when property is sold.   living in it two out of the last 5 years ending with the date of sale entitles you to the home sales exclusion but depreciation you took when it was a rental must be recaptured.   depreciation is not an option.  the law for depreciation recapture is the amount allowed (taken) or allowable (should have been taken) 

meet the two year rule examples

sell for $100,000

basis after reduction for depreciation $85,000

depreciation taken $10,000

depreciation recapture (section 1250) $10,000

capital gain $5,000 less home sale exclusion of $5,000 results in $0 capital gain

same as above but basis $95,000

depreciation recapture $5,000 (recapture limited to gain)