$1.$ Sandra sold some equipment for $$10,000$ in cash, $$1,000$ of office products, the buyer assumption of her

$$1,500$ loan, and incurred selling expenses of $$500.$ What is the Sandra's amount realized in the transaction?

$2.$ Bull Run sold a computer for $$1,200$ on November $10$th of the current year. The computer was purchased for

$$2,800.$ Bull Run had taken $$1,000$ of depreciation deductions. What is Bull Run's gain or loss realized on the

computer?

$3.$ Andrea sold a piece of machinery she used in her business for $9$ months. The amount realized was $$50,000$

and the adjusted basis was $$55,000.$ What is Andrea's gain or loss realized and what is the character of the gain

or loss?

$4.$ Jessie sold a piece of land held for investment for $$250,000.$ Jessie bought the land two years ago for

$$195,000.$ What is the amount and character of Jessie's gain?

$5.$ Alexandria sold equipment that she uses in her business for $$100,000.$ Alexandria bought the equipment two

years ago for $$90,000$ and has claimed $$25,000$ of depreciation expense. What is the amount and character of

Alexandria's gain or loss?

$6.$ Frederique sold furniture that she uses in her business for $$15,000.$ Frederique bought the furniture a few

years ago for $$40,000$ and has claimed $$20,000$ of depreciation expense. What is the amount and character of

Frederique's gain or loss?