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This is known as the Section 121 exclusion, and it remains in effect under the current administration.

Before applying, ensure you meet these criteria.

1. You must have owned the home for at least 2 out of the last 5 years before the sale.
2. The home must have been your primary residence for at least 2 out of the last 5 years before the sale.
3. You haven’t used the capital gains exclusion on another home sale within the last 2 years.
4. Exceptions may apply if you’re selling due to a change in employment, health reasons, or unforeseen circumstances.

Check Publication 523 in the link below for more details.
https://www.irs.gov/pub/irs-pdf/p523.pdf

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