Ryan, age fifty-seven, is single with no dependents. In January
2013, Ryan’s principal residence was sold for the net amount
of $400,000 after all selling expenses. Ryan bought the house in
2000 and occupied it until sold. On the date of sale, the house
had a basis of $180,000. Ryan does not intend to buy another
residence. What is the maximum exclusion of gain on sale of the
residence that may be claimed in Ryan’s 2013 income tax return?