Answer both questions with details.

14. Janine inherits stock from her father. His basis was $45,000 when he purchased it two years ago and the stock was worth $38,000 at his death. Janine sells the stock five months later for $35,000. Which of the following is correct: a. She has a loss of $3,000 from the sale of the inherited stock. b. She has a loss of $10,000 from the sale of the inherited stock. c. The loss is short-term. d. Janine's holding period of the stock includes her father's holding period. 15. Jax had sold his previous house last year and used the $121 exclusion on the gain from the house, moved across the country for work and purchased a new personal residence for $275,000. After 9 months, Jax is transferred to another state for his work. He sells the new house for $395,000 (selling expenses are $15,000). What is Jax's recognized gain, if any, on the sale of this house