No. According to the IRS, You're eligible for the exclusion if you have owned and used your home as your main home for a period aggregating at least two years out of the five years prior to its date of sale.
You can meet the ownership and use tests during different 2-year periods. However, you must meet both tests during the 5-year period ending on the date of the sale. You're eligible for the exclusion if you have owned and used your home as your main home for a period aggregating at least two years out of the five years prior to its date of sale.
You can meet the ownership and use tests during different 2-year periods. However, you must meet both tests during the 5-year period ending on the date of the sale.
In your case, you did not live in your home at any time in the previous five years thus you would not be eligible for the extension. The only exception to this rule is If you or your spouse are on qualified official extended duty in the Uniformed Services, the Foreign Service or the intelligence community. If so, you may elect to suspend the five-year test period for up to 10 years.
An individual is on qualified official extended duty if for more than 90 days or for an indefinite period, the individual is:
- At a duty station that's at least 50 miles from his or her main home, or
- Residing under government orders in government housing.
Please refer to IRS Topic 701 for further assistance.
@steflach23
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
