Timing of when can I sell another primary home

[msheatax]

I sold a primary residence in Sept of 2020.  I paid no taxes as the gain was less than the $250/500k limits.

Now I'd like to sell another primary residence that I have lived in for more than 2 of the last 5 years.

Question is, to meet the once every two year requirment, must I wait until after Sept 2022 to sell? or can I sell now and take the deduction in the 2022 taxes.  It's a little unclear on the exact rule.

Thanks

[Anonymous_ · Accepted solution]

You have to wait until September of 2022 to close on your current residence per Section 121(b)(3) unless an exception (for a partial exclusion) applies.

See https://www.irs.gov/publications/p523#en_US_2021_publink100073096