During the current year, Mark sells a tract of land for $650,000. The property was received as a gift from Alyson on March 10, 1995, when the property had a $320,000 FMV The taxable gift was $310,000 because the annual exclusion was $10,000 in 1995. Alyson purchased the property on April 12, 1980, for $134,000. At the time of the gift Alyson paid a gift tax of $11,000 in order to sell the property, Mark paid a sales commission of $20,000 Read the requirements Requirement a. What is Mark's realized gain on the sale? Select the formula, then calculate Mark's realized gain on the sale (Do not round intermediary calculations Only round the amounts you input in the cells to the nearest dollar) Minus: Realized gain Requirement b. How would your answer to Part a change, if at all of the FMV of the gift property was $120,000 as of the date of the gift? If the FMV of the gift property was $120,000 as of the date of the gift Stan would have realized a gain on the sale of