1 Sue purchased 100 shares of Gold Corporation stock for $14,000 on January 2, 2019 On March 30, 2019, she sells 25 shares of the 100 shares purchased on January 2, 2019, for $2,500 20 days later Sue purchased 25 shares of Gold Corporation stock for $2,100 What is Sues recognized gain or loss on the sale of the stock (on March 30), and what is her basis in the 25 shares purchased 20 days later 2 The bank forecloses on Marlas apartment complex The property had been pledged as security on a nonrecourse mortgage whose principal amount at the date of foreclosure is $750,000 The adjusted basis of the property is $480,000, and the fair market value is $730,000 What is Marlas recognized gain or loss and discharge of debt income a $270,000 gain recognized and $20,000 discharge of indebtedness ($750,000) loss recognized and $0 discharge of indebtedness $0 gain and $0 discharge of indebtedness ($480,000) loss recognized and $270,000 discharge of indebtedness None of the above

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1  Sue purchased 100 shares of Gold Corporation stock for $14,000 on January 2, 2019  On March 30, 2019, she sells 25 shares of the 100 shares purchased on January 2, 2019, for $2,500  20 days later Sue purchased 25 shares of Gold Corporation stock for $2,100  What is Sues recognized gain or loss on the sale of the stock (on March 30), and what is her basis in the 25 shares purchased 20 days later  2  The bank forecloses on Marlas apartment complex  The property had been pledged as security on a nonrecourse mortgage whose principal amount at the date of foreclosure is $750,000  The adjusted basis of the property is $480,000, and the fair market value is $730,000  What is Marlas recognized gain or loss and discharge of debt income  a  $270,000 gain recognized and $20,000 discharge of indebtedness ($750,000) loss recognized and $0 discharge of indebtedness $0 gain and $0 discharge of indebtedness ($480,000) loss recognized and $270,000 discharge of indebtedness None of the above

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1. Sue purchased 100 shares of Gold Corporation stock for $14,000 on January 2, 2019. On March 30, 2019, she sells 25 shares of the

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