Capital Gains Question

[Kevin Goldthwaite]

Hello BP!

I have a tax question I'm hoping to get some insight on so any advice would be very much appreciated.

My wife and I are currently selling our home in Denver, CO. We have lived in the home for ~2.5 years. We are considering turning it into a rental month-to-month until Spring to catch a better selling market. If we do that and sell our home in say April of 2020, would we have to pay capital gains taxes on the profits from the sale since it had been a rental during our ownership? Would we not pay any capital gains taxes since we've lived in it for 2 of the last 5 years?

Thank you so much for any help anyone can provide!