Sara Nade had 2021 capital asset transaction as noted below. For each asset disposition, determine the amount of her gain or loss for tax purposes.

1.Sara sold a necklace on 08/20/21 for $1,000. She had received this necklace on 12/25/20 as a gift from her former boyfriend, Sam, who had purchased it for $1, 250 late in 2019. The necklace was appraised at $1,100 when he gave it to Sara; Sam paid a $55 Federal gift tax on this value.