Question: individual incometax class, short answer without explaining please 3. Noelle received dining room furniture as a gift from her friend, Jane. Jane's adjusted basis was

individual incometax class, short answer without explaining please
 individual incometax class, short answer without explaining please 3. Noelle received

3. Noelle received dining room furniture as a gift from her friend, Jane. Jane's adjusted basis was $9,200 and the fair market value on the date of the gift was $7,000. Noelle decided she did not need the furniture and sold it to a neighbor six months later for $6,500. What is her realized gain or loss and what's her recognized gain or loss

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