Pam owns a personal use boat that has a fair market value of $35,000 and an adjusted basis of $45,000. Pam's AGI is $100,000. The boat is disposed of under the following independent scenarios:
If an amount is zero, enter "0".
a. Pam sells the boat for $35,000. The realized Select loss gain Correct 1 of Item 1 is $ and the recognized Select loss gain Correct 3 of Item 1 is $.
b. Pam exchanges the boat for another boat worth $35,000. The realized Select loss gain Correct 1 of Item 2 is $ and the recognized Select loss gain Correct 3 of Item 2 is $.
c. The boat is stolen and Pam receives insurance proceeds of $35,000. Pam's realized Select loss gain Correct 1 of Item 3 is $ and her recognized Select loss gain Correct 3 of Item 3 is $.
d. The fair market value and the selling price of the boat were $48,000. Pam's realized Select loss gain Correct 1 of Item 4 is $ and her recognized Select loss gain Correct 3 of Item 4 is $.