During 2017, Claire acquired various marketable securities. She: (1) purchased 1,390 shares (88% of the outstanding shares) of Atlas Corp. stock for $46,837 on May 7, 2017; (2) received 4,600 shares (62% of the outstanding shares) of Bridge Corp. stock on September 13, 2017, in exchange for providing advisory services worth $96,600 to a client during August of 2017; (3) purchased 325 shares (5% of the outstanding shares) of Cannelloni Corp. stock for $17,290 on March 26, 2017; (4) purchased 520 shares (8% of the outstanding shares) of Cannelloni Corp. stock for $26,728 on July 6, 2017; and (5) purchased 455 shares (7% of the outstanding shares) of Cannelloni Corp. stock for $25,844 on November 19, 2017. During 2020, Claire desired to adjust her investment portfolio. In particular, she: (1) transferred all of the Atlas Corp. stock, which was then worth $46,930, to Bridge Corp. in exchange for land worth $46,720 on February 16, 2020; (2) sold 180 shares of the Bridge Corp. stock to her daughter, Lilly, for $3,546 in cash on April 3, 2020; and (3) sold 435 shares of the Cannelloni Corp. stock to Bridge Corp. for $22,881 in cash on May 22, 2020. Claire could not identify the specific shares of Cannelloni Corp. stock that she sold. Bridge Corp. originally paid $37,640 to purchase the land it used in its exchange with Claire. Finally, Lilly decided to liquidate her Bridge Corp. investment and Claire decided to liquidate her investment in the land. Accordingly, Lilly sold the Bridge Corp. stock for $3,834 to Carl, Lillys husband, on July 24, 2020, and Claire sold the land for $47,580 to Carl on August 4, 2020. Lilly paid a $40 brokerage fee in connection with the stock sale, and Claire paid a $2,800 real estate commission in connection with her land sale.

Required: Explain what amounts, if any, Claire and Lilly must include in their respective gross incomes for 2020 from the sales and exchanges described above.