Indicate whether the following are capital assets, sec. 1231 assets or neither. Car used for personal use. Car used in a business. Car in inventory at an auto dealership. IBM corporate bond. Accounts Receivable Real property used in a business Personal property used in a business. Indicate whether the following scenarios result in a recognized gain, recognized loss (or neither). William's personal vehicle (adjusted basis of $30,000 ) is stolen. He receives $25,000 from the insurance company. William's personal vehicle (adjusted basis of $30,000 ) is stolen. He receives $35,000 from the insurance company. Sarah invested $10,000 in Amazon stock 5 years ago. The stock is now worth $50,000. Harry sells his personal residence where he has lived for the past 10 years (adjusted basis of $350,000 ) for $300,000. Harry sells his personal residence where he has lived for the past 10 years (adjusted basis of $350,000) for $400,000. Brad loaned his friend Brian $3,0002 years ago. Brian declared bankruptcy this year and informed Brad that he wil be unable to pay him back. Joe's apartment building with a basis of $100,000 and a FMV of $200,000 is condemned by the city who pays Joe $200,000 as compensation. Joe replaces it by buying another rental property for $210,000. Joe's rental property with a basis of $200,000 is destroyed by fire. Joe receives $190,000 from his insurance company and purchases another property for $200,000