Exercise $13-31($LO$\mathrm{.}4)$

Lisa sells business property with an adjusted basis of $$130,000$ to her son, Alfred, for its fair market value of $$100,000.$

If an amount is zero, enter $"0".$

a$.$ What is Lisa's realized and recognized gain or loss?

Lisa has a s $$ realized $$ of which $ $$ is recognized.

b$.$ What is Alfred's recognized gain or loss if he subsequently sells the property for $$138,000?$ For $$80,000?$

If Alfred sells the property for $$138,000,$ he has a recognized $$ of $ $$

If Alfred sells the property for $$80,000,$ he has a recognized $$ : of $ $$