Lisa sells business property with an adjusted basis of $$168,800$ to her son, Alfred, for its fair market value of $$135,040.$

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

a$.$ What is Lisa's realized and recognized gain or loss?

Lisa has a $ realized! of which $ is recognized.

b$.$ What is Alfred's recognized gain or loss if he subsequently sells the property for $$185,680?$ For $$109,720?$

If Alfred sells the property for $$185,680,$ he has a recognized of $

If Alfred sells the property for $$109,720,$ he has a recognized of $