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Kayla and Kayson are married filing jointly and purchased a house in San Diego on May 1, 2010 for$200,000(house was$150,000and land was$50,0000) and lived in

Kayla and Kayson are married filing jointly and purchasedahouse in San Diego on May 1, 2010 for$200,000(house was$150,000and land was$50,0000) and lived in the house until April 30, 2013. Kayla and Kayson purchased another house on May 1, 2013 for$300,000and lived in that house until they sold it for$500,000on April 30, 2019. They paid tax on the$200,000gain. Kayla and Kayson moved back into the first house on May 1 , 2019 and lived there until they sold that house on April 30, 2022 for$600,000. Required:  research memo to Kayla and Kayson. Hint: What is a statute of limitations?

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