On october 22, 2016, leahy corp. sold land to heller co., its non-wholly owned subsidiary. the land cost $122,000 and was sold to heller for $197,000. from the perspective of the combination, when is the gain on the sale of the land realized? a. proportionately over a designated period of years b. when heller co. sells the land to a third party c. no gain can be recognized d. as heller uses the land

Juan's investment portfolio was valued at $125,640 at the beginning of the year. during the year, juan received $603 in interest income and $298 in dividend income. juan also sold shares of stock and realized $1,459 in capital gains. juan's portfolio is valued at $142,608 at the end of the year. all income and realized gains were reinvested. no funds were contributed or withdrawn during the year. what is the amount of income juan must declare this year for income tax purposes?