Madeline sells her personal scooter for $3,750. She purchased the scooter for $4,500 three years ago. She also sells a painting for $6,480 that she acquired five years ago for $5,400.

What are the tax implications of these sales?

Madeline has a ________ 1 realized

gain or loss?

on the scooter and a ____________ 3 realized

gain or loss?

on the painting. Madeline will recognize the gain or loss associated with

only the painting, only the scooter, or both the painting and the scooter

.