On February 28, 2014, Joe sells a piece of property for $75,000. Joe received the property as a gift on July 1, 2001 from Mel when the property had a FMV of $79,000. Mel purchased the property on January 5, 1990 for $90,000. What is Joe's realized gain or loss on the sale?

Answer rating: 100% (QA)

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