1.Samantha and her husband have been married for over 25 years and have built a successful family business, originally founded in 2002.They have two children, Aspen (age 24) and Julie (age 16).On January 1, 2020, Aspen accepted a position as a management trainee in the family business.At that time, she was gifted by Samantha a 10% stock ownership interest with a fair market value of $100,000 on the date of the gift.Samantha's basis in the stock gifted to Aspen was $11,000.

Several years earlier, in an effort to assure the continuation of the business following their deaths, both Samantha and her husband entered into a written agreement granting the plant manager an option to acquire 100% of the stock of the business for $1.5 million exercisable upon the death of Samantha's husband.

On March 18, 2020 Samantha's husband died.On April 1, 2020 the plant manager notified Samantha that he was exercising his Option to acquire the entire business for $1.5 Million Dollars, and that he had scheduled a closing for May 1, 2020.Samantha went into a panic realizing that one of her daughters owned a 10% interest, but the other one owned nothing.Samantha's husband's Will gives 250,000 to each of his daughters, and the entire remainder of his assets to Samantha. So on April 16, 2020, Samantha distributed from her husband's Estate $250,000 in cash to Aspen and $149,000 in cash and a 10% ownership interest in the company to Julie.The 10% interest distributed to Julie had a fair market value of $101,000, measured as of March 18, 2020. This value had declined to 95,000 on April 16, 2020, the date of transfer to Julie.

On May 1, the sale to the plant manager was completed, including the sale of the 10% interest held by each of the daughters.What is the amount of the gain or loss recognized by Aspen and Julie?