Margo receives a gift of real estate with an adjusted basis of $175,000 and a fair market value of $100,000. The donor paid gift tax of $15,000 on the transfer. If an amount is zero, enter "o". 175,000 and her basis for a loss is $ If Margo later sells the property for $110,000, Margo's basis for a gain is $ her recognized gain or loss is $