I:12-41 Sale of a Principal Residence. Mr. and Mrs. Rusbarsky purchased a residence on June 12, 2019,

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I:12-41 Sale of a Principal Residence. Mr. and Mrs. Rusbarsky purchased a residence on June 12, 2019, for $200,000. On March 12, 2022, they sell the residence for $300,000, and selling expenses amount to $11,000. They purchase another house in a new subdivision for

$275,000. Determine the gain realized and recognized.

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