18. Camilo's property, with an adjusted basis of $206,800, is condemned by the state. Camilo receives property with a fair market value of $237,820 as compensation for the property taken.

If an amount is zero, enter "0".

a. What is Camilos realized and recognized gain?

Camilo's realized gain is $. and his recognized gain is $. .

b. What is the basis of the replacement property? The basis of the replacement property is $. .

17.

During 2021, Rafael had the following gains and losses on property held for the long-term holding period:

• sale of Orange common stock ($8,000 gain)
• sale of real property used in his business ($1,800 loss)
• destruction of personal real property by fire ($1,000 loss).

Determine the treatment of the gain or loss amount of the real property sale.

(Select one of the choices and enter to the box: 1231 gain, 1231 loss, 1245 gain, 1245 loss, 1250 gain, 1250 loss, ordinary gain, ordinary loss, short term capital loss, short term capital gain, long term capital gain, long term capital loss) DO NOT ENTER THE DASH.