On August 31, 2022, Nolan and Lei, 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 $302,200 was excluded under $121. They purchased another person residence in Charleston for $483,520 on September 1, 2022. In 2023, Nolan's employer transfers him to Houston, Texas. The couple sells the Charlestor home on February 28, 2023, and purchases a new home in Houston. The realized gain on the second sale is $271,980. Do not round any division. What is Nolan and Lei's recognized gain on the second sale? $ X Feedback Check My Work If certain conditions are met, 121 exclusion on the sale of a principal residence is a determined