Problem 14-39 (Algorithmic) (LO. 1, 2, 3) Kevin purchases 1,000 shares of Bluebird Corporation stock on October 3, 2020, for $160,000. On December 12, 2020, Kevin purchases an additional 750 shares of Bluebird stock for $112,000. According to market quotations, Bluebird stock is selling for $160 per share on 12/31/20. Kevin sells 500 shares of Bluebird stock on March 1, 2021, for $89,600. a. What is the adjusted basis of Kevin's Bluebird stock on December 31, 20207 b. What is Kevin's recognized gain or loss from the sale of Bluebird stock on March 1, 2021, assuming the shares sold are from the shares purchased on December 12, 2020 in your computations, round the per share amount to the nearest whole dollar and use the rounded amount in subsequent computations Kevin's recognized is gain In or loss from the sale of Bluebird stock on March 1, 2021, assuming Kevin cannot adequately identify the loss What is Kevin's recog shares sold Kevin has a recognized Y of Problem 14-42 (Algorithmic) (LO. 1, 2, 3) Roberto has received various gifts over the years and has decided to dispose of the following assets he received as gifts in the transactions indicated below. Determine the recognized gain or loss from the following transactions, assuming that no Federal gift tax was paid when the gifts were made. If an answer is zero, select "neither a gain nor a loss and enter"0as the amount a. In 1981, he received land worth $45,120. The donor's adjusted basis was $50,760. Roberto sells the land for $112,800 in 2020. is recognized of b. In 1986, he received stock in Gold Company. The donor's adjusted basis was $104,320. The fair market value on the date of the gift was $91,280. Roberto sells the stock for $130,400 in 2020. of is recognized c. In 1992, he received land worth $33,750. The donor's adjusted basis was $45,000. Roberto sells the land for $20,250 in 2020. of is recognized. d. In 2013, he received stock worth $30,000. The donor's adjusted basis was $42,000, Roberto sells the stock for $38,000 in 2020. of is recognized Check My Work 2 more Check My Work uses remaining ue recognized gain or loss from the following transac made. If an answer is zero, select "neither a gain nor a loss" and a. In 1981, he received land worth $45,120. The donor's adjuste of $ is recognized. Neither a gain nor a loss stock in Gold Company. The donor's adjus A gain ells the stock for $130,400 in 2020. A loss is recognized. c. In 1992, he received land worth $33,750. The donor's adjusted of $ is recognized. d. In 2013, he received stock worth $30,000. The donor's adjusted t of $ is recognized. Check My Work 2 more Check My Ware namaininn