On February $1,2024,$ Stephen $($who is single$)$ sold his principal residence $($home $1)$ at a $$100,000$ gain. He was able to exclude the entire gain on his $2024$ tax return. Stephen purchased and moved into home $2$ on the same day. Assuming Stephen lives in home $2$ as his principal residence until he sells it$,$ which of the following statements is true?

Multiple Choice

Under no circumstance will Stephen be allowed to exclude gain on home $2$ if he sells home $2$ in $2025.$

Stephen will be eligible to exclude gain on home $2$ only if he waits until, $2029$ to sell it$.$

In certain circumstances, Stephen may be able to exclude gain on home $2$ even if he sells home $2$ in $2024.$

None of the choices are correct.