Investor owns 1,000,000 shares of stock of Corp. XYZ with a zero basis and a FMV of 100,000,000 that the investor has held for 20 years. The investor sells 1,000,000 shares of XYZ short for $100,000,000 in February 2016. In July 2017 when the stock is worth $150,000,000, the investor buys 1,000,000 shares of XYZ for $150,000,000 and delivers it to close the short sale. In December 2017, the investor sells the remaining 1,000,000 shares of XYZ for $200,000,000. What are the tax consequences in 2016 and 2017?