Barbara had the following Section 1231 gains and losses in the previous four years:
YEAR SECTION 1231 GAIN (LOSS)
1........................................$50,000
2..................................... ($45,000)
3.......................................$20,000
4.......................................$15,000
a. How will Barbara treat a $25,000 gain in year 5?
b. Is there any unrecaptured Section 1231 loss remaining?