(a) Robert and Diane, husband and wife, live in Pennsylvania, a common law state. They purchased land as joint tenants in 2012 for $300,000. In 2016, Diane dies and bequeaths her share of the land to Robert. The land has a fair market value of $450,000 on Dianes date of death. Calculate Roberts adjusted basis in the land.

(b) Karen purchased 100 shares of Gold Corporation stock for $11,500 on January 1, 2003. In the current tax year, she sells 25 shares of the 100 shares for $2,500. Twenty-five days earlier, she purchased 30 shares of the same stock for $3,000. What is Karens recognized gain or loss on the sale of the 25 shares and what is Karens basis in the 30 shares purchased 25 days earlier?

***Please show work so I know how you got the answer.