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Investors & landlords
You can only claim the exclusion on one primary residence every two years.
Since you sold the 2nd home within two years of selling the first home, only one of them can qualify for the exclusion. Which one doesn't matter. You'll have to work through both scenarios to see which one is better for you tax-wise.
But the bottom line is, you will pay taxes on any gains from one of the homes. Which one is up to you.
‎July 20, 2020
8:17 AM