Scroll down to complete all parts of this task. In Year 11, Gearty, a single taxpayer, sold the following stocks: 1) Stock in A Corp. that he purchased on July 14, Year 1, for $40,000. 2) Stock in B Corp. that he purchased on July 11, Year 2, for $97,000. 3) Stock in C Corp. that he purchased on December 10, Year 10, for $15,000. 4) Stock that Gearty inherited from his mother, who died on January 5, Year 11. Her basis was $10,000 and the fair market value at her death was $27,000. She had acquired the stock on January 3, Year 11. The alternative valuation date was not elected on her estate. 5) Stock that Gearty received as a gift in Year 5. The donor's basis was $25,000 and the fair market value at the date of the gift was $20,000. The donor had owned the stock for several years. 1 In column B, select from the option list to indicate whether the gain or loss from the sale is "short-term" or "long-term." In column C, select from the option list to indicate whether the sale results in a "gain" or a "loss." In column D, enter the amount of the gain or loss. A 2 The inherited stock was sold on March 10 for $28,000. 3 The B Corp. stock was sold on May 12 for $15,000. 4 The C Corp. stock was sold on August 27 for $25,000. 5 The A Corp. stock was sold on September 22 for $100,000. 6 The gifted stock was sold on October 5 for $26,000. 7 Gearty's total gain or loss for stock disposed of in Year 11. In Year 12, Gearty had two additional capital transactions. The first resulted in a short-term capital gain of $10,000 and the 8 second resulted in a long-term capital gain of $7,000. Assume that Gearty took the maximum net capital loss deduction in Year 11. B C D Long-term or Short-term Gain or Loss Amount iiiiiiiiiiiiiii III 123 123 123 123 123 123 123