15- Nina purchased a watch in 1993 for $5,000. Bill received the watch upon her death in 2020 when it was worth $4,000. Bill sold it the next month for $4,200. Bill recognizes a:

a-$800 capital loss b-$1,000 capital loss c-No gain or loss d-$200 capital gain

16-Kramer sells two personal use automobiles during 2020. He realizes a gain of $4,000 on the sale of of one auto and he realizes a $6,000 loss on the sale of the other auto. What amount of recognized gain or loss will be included in Kramer's 2020 taxable income as a result of the two sales?

a-$6,000 loss b-$4,000 gain c-$0 d-$2,000 loss e-None of the above