Indicate whether the following scenarios result in a recognized gain or loss.
a. Kay sells her vacation cabin (adjusted basis of $100,000) for $150,000.
There is of $_________ that is .
b. Adam sells his personal residence (adjusted basis of $150,000) for $100,000.
There is of $ _________that .
c. Carl's personal residence (adjusted basis of $65,000) is condemned by the city. He receives condemnation proceeds of $55,000.
There is of $ __________that is .
d. Olga's land is worth $40,000 at the end of the year. She had purchased the land six months earlier for $25,000.
There is of $_________.