How Long do i have to reinvest Capital Gains

My wife and I are considering selling our home next year and then want to build a new home in a year or 2. it could be up to 2 years before we build a new home. We thought that If we were to invest any capital gains from our current home into buying land for us to build on in the future, that we would not have to worry about paying taxes on capital gains since the money was reinvested in the same year into new property for us to build on. Is this correct, or is there some different way to go about it with tax forms so that we do not have to be taxed from any money with the sale of our home. by the time we sell it we we will have lived in it for 3 years as a main residence.

Thanks for your help!
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    The ability to postpone gain on a home sale by reinvesting in another home was removed from the tax code in the late 1990s. You can not postpone capital gains taxes by any means. There is, however, a a capital gains exclusion provision if you meet certain requirements. If you have owned and lived in your primary residence for at least 2 years in the 5 years ending on the date of sale, then you can exclude $250,000, single, or $500,000, Married Filing Jointly, of capital gains.
    For additional information on the exclusion and on how to determine gain and where to report it, see IRS Pub. 523, Selling your Home, at this link:
    http://www.irs.gov/pub/irs-pdf/p523.pdf
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