I need help with these problems. Can you please answer them with explanations?

QUESTION 1 Hesse purchases land and an office building for his business for $120,000 with $35.000 being allocated to the land. During the first year, Hesse deducts cost recovery of $5,000 Hesse's adjusted basis for the building at the end of the first year is $85.000 True Falso QUESTION 2 Albert, who is single, has a gain of $40,000 on the sale of 81244 stock (small business stock) and a loss of S80,000 on the sale of 1244 stock. As a result, Albert has a $80,000 ordinary loss True False