Jose owns a 60% interest in the JKL Partnership. what are the amount and character of the recognized gain or loss in each of the following situations? (Click the icon to view the situations.) Enter a "0" if no gain or loss is to be recognized. tf no gain or loss is recognized, leave the character column blank, do not select a label.) Amount of recognized More Info Situationn a. Common stock b. Land c. Building gain or (loss Character Jose sells common stock held as an investment with a $1,000 adjusted basis and a $3,000 FMV to the partnership. Jose held the stock for more than one year as an investment before the sale. The partnership also held the stock as an investment after the sale a. b. Jose sells a parcel of land held for investment purposes with a $10,000 Long-term capital gain Long-term capital loss Ordinary income Ordinary loss Passive income Passive loss Short-term capital gain Short-term capital loss adjusted basis and a $25,000 FMV to the partnership. The land is used in the partnership's business. C. The partnership sells Jose a building used in its business with a $100,000 adjusted basis and a $60,000 FMV Print Done