Mary Stone, a single individual, sold a personal residence on June 3, 2017, and excluded her $93,600 gain from gross income. If she sells another personal residence before June 4, 2019, she can exclude a maximum of $156,400 of any gain.

Question

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The maximum exclusion amount for a second personal residence sold within the two-year period after the first sale is $93,600, not $156,400.

Mary Stone, a Single Individual, Sold a Personal Residence on June