2018 Capital Gains Rule Change

[Kendra Ellis]

My CPA is telling me that I can no longer sell my primary residence after 2 years to avoid capital gains tax. Is this true? Our 2 year anniversary in our current home in next month, we are ready to pull the trigger and list it and we will stand to make a huge profit from this sale. He is saying that on Jan. 1, 2018 it has changed that you need to living in the home for 5 years instead of 2. Any CPA out there that can verify this?

[Matt H.]

Don't need to call anyone, just click this. PS, maybe get a new CPA.

https://www.irs.gov/taxtopics/tc701