The following facts apply to collins, an individual: in february of the current year, hodge, who had owed a $5.000 personal debt to collins for the past three years, declared bankruptcy collins sold land used in collins's business for a $10,000 gain. the land had been purchased by collins five years prior ·in july of the current year, colins received shares of stock as a gift from bellamy bellamy had purchased the shares in january of the current year in november collins sold the stock for a gain of $3,000. 015552 considering only the above facts, what will collins report on the current year tax return? mutiple choice $5,000 long-term capital gain and $3,000 shot erm capital gain $8.000 loog-term capital gain $1 ordinary income and $2,000 short-em capital loss 2,000 long-term capital gein n year 3 daniels, an individual, sold section 1245 property for $21000 that had an adjusted basis of $12,000, resulting in a $9,000 gain. the property had cost daniels $20,000 when purchased in year 1, and $8,000 of macrs depreciation had been taken. how should daniels report the gain on daniels year 3 tax return? mult ple choice as an ordinary osin of $7,200 and a long-tem captal gain of $8o as an ordinary gain of s8,000 and a long term capital in of $1000 ls an ordinary gain of $1800 and a long -teem capital gain of $7200 as a long-serm cepital gain of 000 b0 8 we r command option