11. Brandon, an individual, began business four years ago and had a $1231 loss last year of $3,000. Brandon owned each of the assets for several years. In the five year, Brandon sold the following business assets. Asset Original Cost Accumulated Depreciation Machinery Gain Loss $ 30,000 Computers 7,000 $ 10,000 10,000 Land 6,000 (6,000) 40,000 0 20,000 What gains losses does Brandon have for the current year (61245 and $1231)? For the $1231 amount state how much will be taxed as ordinary income and how much will be taxed as long term capital Page 15 of 15 1962 words a 11. Brandon, an individual, began business four years ago and had a $1231 loss last year of $3,000. Brandon owned each of the assets for several years. In the five year, Brandon sold the following business assets. Asset Original Cost Accumulated Depreciation Machinery Gain Loss $ 30,000 Computers 7,000 $ 10,000 10,000 Land 6,000 (6,000) 40,000 0 20,000 What gains losses does Brandon have for the current year (61245 and $1231)? For the $1231 amount state how much will be taxed as ordinary income and how much will be taxed as long term capital Page 15 of 15 1962 words a