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Good morning. As set forth in IRS Publication 523, you satisfy the ownership and use tests and thus qualify for the capital gain exclusion (up to: $250,000 if single, $500,000 if married) if you can show that you owned and lived in the property as your main home for either 24 full months or 730 days (365 × 2) during the 5-year period ending on the date of sale. If the house is not sold before the end of November, 2012, you will not satisfy this test.
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