19.

What is the benefit of obtaining capital gain characterization when reporting recognized gains on your income tax return? ( 2 OR 3 sentences)

20.

Susan bought real estate as an investment on January 12, 2016, for $85,000. On January 31, 2020, Susan sold the real estate for $25,000 cash. In addition, the purchaser assumed the mortgage of $70,000 on the real estate.

What is the amount realized (proceeds - not gain realized) on the sale of the real estate?

What is the amount of the realized gain on the sale?