Javier is the sole proprietor of a sporting goods business. During $2023,$ the following transactions occurred. For each transaction, what are the amount and nature of recognized gain or loss?

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

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a$.$ Unimproved land adjacent to Javier$$s store was condemned by the city on February $1.$ The condemnation proceeds were $$15,000.$ The land, acquired in $1990,$ had an allocable basis of $$40,000.$ Javier has additional parking across the street and plans to use the condemnation proceeds to build his inventory.