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Tax Drill $-$ Section $121-$MF$]$

On August $31,2022,$ 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 $$292,000$ was excluded under $121.$ They purchased another personal residence in Charleston for $$480,000$ on September $1,2022.$

However, in $2023,$ Harvey's employer transfers him to Houston, Texas. They sell their Charleston home on February $28,2023,$ and purchase a new home in Houston. The realized gain on the second sale is $$180,000.$

Do not round any division in your computations.

Harvey and Margaret's recognized gain on the second sale is $