1. Suppose instead of land the taxpayer sold a piece of machinery used in her trade or business that was originally purchased for $22,000 but on which the taxpayer properly took $7,000 of depreciation.

a. What is the amount realized?

b. What is the adjusted basis of the machinery?

c. What is the gain on the sale of the machinery?

(this was the question that was before the one im asking for: Taxpayer owns land purchased several years ago for $22,000. She sells it for $50,000.

What is the amount realized? What is the adjusted basis of the land? What is the gain on the sale of the land?)