On July 1, 2022, Ted, age 73 and single, sells his personal residence of the last 30 years for $365,000. Ted's basis in his residence is $50,000. The expenses associated with the sale of his home total $21,000. On December 15, 2022, Ted purchases and occupies a new residence at a cost of $225,000.

Calculate Ted's realized gain, recognized gain, and the adjusted basis of his new residence.

Problem 4-9 siale of a perwonal hesidene (t,4,6) of hia freme total 121,000. On December 15, 2021. Ted purchases and eccupien a new fesidenice at a cost of 1225.000. Calculate Ted'a realired gain, recognized gain. and thet adjusted basid of his new reaidence