On August 30, 2019 Hannah and Leo, who file a joint return and live in Charelston, South Carolina, sell their personal residence, which they have owned and lived in for 10 years. The realized gain of $292,000 was excluded under Section 121. They purchased another personal residence in Charelston for $480,000 on September 1, 2019. However, in 2020, Hannah's employer transferred her to Houston, Texas. The couple sells the Charelston home on February 28, 2020 and purchases a new home in Houston. The realized gain on the second sale is $180,000. What is Hannah and Leo's recognized gain on the second sale?

Please explain and show your work.