I have two questions:

1. In September of 2017, Jen gave Thomas a gift. On the date of the gift, the property had an adjusted basis of $5,000.00 and FMV if $10,000.00. If Thomas sold the property on March 18, 2019 for $8,000.00, what is Thomas recognized gain or loss?

2. T had the following capital gain transactions in 2019:

Long term capital gain $11,000.00

Long term capital loss ($5,000.00)

Short term capital gain $13,000.00

Short term capital loss ($5,000.00)

What is Ts net capital gain/loss for the year?