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On August 31, 2015, Harvey and Margaret, who file a joint return and live in Charleston, South Carolina, sell their personal residence, which they have

On August 31, 2015, Harvey and Margaret, who file a joint return and live in Charleston, South Carolina, sell their personal residence, which they have owned and lived in for 10 years. The realized gain of $356,200 was excluded under 121. They purchased another personal residence in Charleston for $569,920 on September 1, 2015. However, in 2016, Harvey's employer transfers him to Houston, Texas. They sell their Charleston home on February 28, 2016, and purchase a new home in Houston. The realized gain on the second sale is $320,580. What is Harvey and Margaret's recognized gain on the second sale?

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