So you're walking home from work and you meet a talking moose.
Fantasy: Tells you why/how the moose talks (Moose shifter, fairy blessing, etc)
Magical realism: Look, it's a fucked up world and sometimes you meet a talking moose, what do you want
Also also, fantasy can be literary without being magical realism!
But I don't have moose analogies for either of those. 😂
So, uh, while I haven't written magic realism since college, I do have a fantasy trilogy: amazon.com/gp/bookseries/…
No talking moose, alas, but lots of twisty political intrigue and fire magic! A few elk in Book 2. 😂
(Fantasy can also use magic/moose as metaphor for RL issues, though.)
I should add the disclaimer that I am not a magic realism expert, I'm just a fantasy writer with a literature degree who impulse-posted a moose tweet. 😅