During 2015, Tom sold Sears stock for $10,000. The stock was purchased 4 years ago for $13,000. Tom also sold Ford Motor Company bonds for $35,000. The bonds were purchased 2 months ago for $30,000. Home Depot stock, purchased 2 years ago for $1,000, was sold by Tom for $2,500.

Calculate Tom's net gain or loss, and indicate the nature of the gain or loss.

William sold Section 1245 property for $25,000 in 2015. The property cost $37,000 when it was purchased 5 years ago. The depreciation claimed on the property was $17,000.

If an amount is zero, enter "0".

a. Calculate the adjusted basis of the property. $

b. Calculate the recomputed basis of the property. $

c. Calculate the amount of ordinary income under Section 1245. $

d. Calculate the Section 1231 gain. $