Jody purchased a home in a suburb of Milwaukee for $300,000 on October 1, 2016. Eighteen months later, her employer transferred her to Minneapolis and Jody sold her home for $340,000. How much of Jody's gain form the sale of her Milwaukee home can be excluded from her gross income?

Bobby and Betty Bennett sold for $450,000 in October of 2018 their residence that they had purchased in 2008 for $200,000. They made major capital improvements during their 10-year ownership totaling $40,000. What is their recognized gain?