QUESTIONS Brittany sold a parcel of investment real estate her son, Ridge, for $160,000. Her basis in the real estate was $175,000. During the year, Ridge sells the real estate to an unrelated third party for $185,000. How much gain or loss is recognized by Brittany on the sale to Ridge, and how much gain or loss is recognized by Ridge on the sale to the unrelated third party? $15,000 toss for Brittany: $5,000 loss for Ridge No gain or loss for Brittany, $25,000 gain for Ridge $15,000 loss for Brittany, $25,000 gain for Ridge No gain or loss for Brittany, $10,000 gain for Ridge