1. Lilian sells her personal use automobile for $5,200 in 2021. The automobile is a personal use asset. She purchase the automobile 5 years ago for $6,200. 

a. Determine the initial gain or loss amount in 2021. Enter an absolute amount. 

b. Determine the treatment of the gain or loss amount on her 2021 return:

(Select one of the choices and enter to the box: no gain or loss, ordinary gain, ordinary loss, short term capital loss, short term capital gain, long term capital gain, long term capital loss) DO NOT ENTER THE DASH.

2. Benny owns Reneta, Inc., that has a 2021 net § 1231 gain of $84,000 and had a $68,000 net § 1231 loss in 2020.

Determine the amount of ordinary gain in 2021.

3. Vireo Corporation purchased a machinery on June 12, 2009, for $82,000 and had an adjusted basis of $58,000 at the date of the sale. The corporation sold machinery for $63,000 on July 31, 2021.

Determine the ordinary income amount in 2021 tax return. Determine the treatment of the above ordinary income:

(Select one of the choices and enter to the box: 1231 gain, 1231 loss, 1245 gain, 1245 loss, 1250 gain, 1250 loss, short term capital loss, short term capital gain, long term capital gain, long term capital loss)