Cap Gains on a personal residence turned rental

[Paul Hom]

Hi there.  I had a quick question about selling a property.

We lived in our residence for 5 years, then because of a new job had to move away.  In our absence we rented the house out for the past 2 years.  So over the past 5 yrs we met the criteria of living in the home for at least 2 yrs.  Our tax preparer has told us that the 2 yrs must be the last 2 yrs, so the exception does not apply to us.  This is inconsistent with my understanding.  Any assistance is greatly appreciated.

[Luke Lawrence]

I always thought it has to be any two years out of the past 5 year history. I assume you will be fine, but wait around for someone to give better advice.