QUESTION 11 Lynn purchases a house for $52,000. She converts the property to rental property when the fair market value is $115,000. After deducting depreciation (cost recovery) expense of $1,130, she sells the house for $120,000. What is her recognized gain or loss? $0. $6,130 $37,630 $69,130 QUESTION 12 Over the past 20 years, Alfred has purchased and sold shares of Green, Inc., common stock as follows: Purchased 50 shares for $20 per share in 1999 Purchased 150 shares at $30 a share in 2005 Sold 100 shares in 2010 (the original 50 shares and 50 of the 2005 shares) Purchased 200 shares at $50 a share in November of 2018 In June of 2019, Alfred sold 100 shares at $60 per share. Assuming that Alfred cannot adequately identify the shares to be sold, what is his recognized gain or loss? $1,000 STCG $3,000 STCG $3,000 LTCG $3,250 LTCG Click Save and Submit to sue and submit. Click Save All Answers to save all answers