Business, 15.02.2020 02:57 nssjdjsididiodododod

On August 31, 2018, Harvey and Ling, 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 $352,600 was excluded under § 121. They purchased another personal residence in Charleston for $564,160 on September 1, 2018. However, in 2019, Harvey's employer transfers him to Houston, Texas. The couple sells the Charleston home on February 28, 2019, and purchases a new home in Houston. The realized gain on the second sale is $317,340. What is Harvey and Margaret's recognized gain on the second sale ?

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On August 31, 2018, Harvey and Ling, who file a joint return and live in Charleston, South Carolina,...

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