My question is essentially the same as one posted a few years back. Here's the link: http://www.expertlaw.com/forums/show...546#post364546
There was not a good response so I am reposting the same question.
My wife bought her own home in 1997 and, even with the market dip in 2006-2011, still has significant capital gains in the house. We moved into a new home in 2010 and have been renting the old home. I know if we sold it now or by 2013 we'd qualify for the 121 exclusion. But we'd rather keep it. Is there a way to do this but nonethless lock in our 121 exclusion, e.g. by selling it to a trust or s-corporation with us as beneficiaries?