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Ben, single, buys a house for $200,000 in 2016. He sells the house in 2020 for $700,000. He purchases another home in 2020 for $900,000,

Ben, single, buys a house for $200,000 in 2016. He sells the house in 2020 for $700,000. He purchases another home in 2020 for $900,000, two months after selling the first one. How much gain do he recognize on the house sale?

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