Selling real estate and capital gain tax

[Julie J.]

Hi all

I have an investment property I am thinking about selling and I know I can defer paying taxes through 1031exchange. However that comes with having to find another like kind investment home within 45days, paying higher rates and fees.

So, what about me moving back in the house and live there for 2 years and sell?

Will that exempt me from paying capital gain tax up to 500k(since I am married)?

Any input is appreciated.