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Joel's main home is destroyed in a tornado in a federally declared a disaster area. The insurance company compensates Joel for his loss in 2019,

Joel's main home is destroyed in a tornado in a federally declared a disaster area. The insurance company compensates Joel for his loss in 2019, which produces a $350,000 realized gain. How long does Joel have to purchase a new principal residence and avoid being taxed on the gain?

A. December 31, 2019
B. December 31, 2020
C. December 31, 2021
D. December 31, 2022
E. December 31, 2023

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