Sal Ler purchased land for $100,000 on January 1 of the current year. On July 15, land values dropped due to shifts in the economy and Sal sold his land to a third party for $60,000. Sal changed his mind and repurchased the same plot of land on July 30. Sal has $50,000 of capital gains ($25,000 taxable capital gains) from the sale of other personal investments