Karl sold his truck that he used only for personal purposes to an unrelated person for $15,000 this year. His basis in the truck was $20,000. If this is his only property transaction this year, what amount is included in his adjusted gross income?

a. ($5,000)

b. ($3,000)

c. $0

d. None of the above.

9. Allie purchased 100 shares of stock in Howell Corporation for $1,000 in 2015. On August 10, 2019, she sold 100 shares of the stock for $700 in total. On September 1, 2019, she purchased 100 more shares of Howell Corporation stock for $900. Allies total basis in the 100 new shares she purchased on September 1, 2019, is:

a. $700.

b. $900.

c. $1,000.

d. $1,200.

e. none of the above.