Mahan purchases $1,000$ shares of Bluebird Corporation stock on October $3,2022,$ for $$490,000.$ On December $12,2022,$ Mahan purchases an additional $750$ shares of Bluebird stock for $$343,000.$ According to market quotations, Bluebird stock is selling for $$490$ per share on $12/31/22.$ Mahan sells $500$ shares of Bluebird stock on March $1,2023,$ for $$274,400.$

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a$.$ What is the adjusted basis of Mahan$$s Bluebird stock on December $31,2022?$

$fill in the blank $5$b$6598087010078\_1$

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Cost identification problems are frequently encountered in securities transactions.

For example, the Regulations require that the taxpayer adequately identify the particular stock that has been sold $($specific identification$).$

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b$.$ What is Mahan's recognized gain or loss from the sale of Bluebird stock on March $1,2023,$ assuming the shares sold are from the shares purchased on December $12,2022?$ In your computations, round the per share amount to the nearest whole dollar and use the rounded amount in subsequent computations.

Mahan's recognized

is $fill in the blank $1$aae$07$fd$9$fbffde$\_2.$

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c$.$ What is Mahan's recognized gain or loss from the sale of Bluebird stock on March $1,2023,$ assuming Mahan cannot adequately identify the shares sold?

Mahan has a recognized

of $fill in the blank $4488$f$5$f$8$affef$8$c$\_2.$

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