Can I offset the gain on sale of my primary residence (held for more than 2 years) with the loss on the sale of a previous primary residence?

[BobinCT · Accepted solution]

No that isn't an option.  But if you lived there and owned it at least 2 or the last 5 years you can exclude the first 250,000 (500,000 MFJ) from taxation and the rest is long term gains.