Thomas purchased a tract of land on August $3,2016$ for $$500,000.$ He held the land as an investment until

September $4,2020,$ when he died. The value of the land on that date was $$750,000.$ After Thomas$$s

death, the land was inherited by his son, James. The executor of Thomas$$s estate did not elect the

alternate valuation date. James held the land as an investment until October $17,2022,$ when he gave the

land to his daughter, Dolly, as a gift. No gift tax was paid on the gift. The value of the land on October

$17,2022$ was $$900,000.$ Dolly sold the land for $$1,000,000$ on May $23,2023.$

a$.$ What was Thomas$$s basis in the land while he owned it$?$

b$.$ What was James$$s basis in the land during the time that he held it$?$

c$.$ What was Dolly$$s basis in the land during the time that she held it$?$

d$.$ What was Dolly$$s realized gain or loss when she sold the land in $2023?$