Taylor has owned and occupied her personal residence (adjusted basis of $190,000) for four years. In April 2015, she sells the residence for $300,000 (selling expenses are $20,000). On the same day as the sale, Taylor purchases another house for $350,000. Because of noisy neighbors, she sells the new house after just 10 months. The selling price is $483,000 (selling expenses are $18,000).

What is Taylors recognized gain on the sale of the first residence?

What is Taylors basis for her second residence?

What is Taylors recognized gain on the sale of the second residence?

Assume instead that the sale of the second residence was due to Taylors job transfer to another state. What is her recognized gain on the sale of the second residence?