1231 Asset with Depreciation - Tangible Personal Property subject to 1245 recapture Teton sold machinery for $400,000. What is the amount and character of the gain Teton must recognize on the sale? The original basis was $710,000 and the accumulated depreciation was $450,000. Let's assume the same facts as in the previous example, except that Teton sells the machinery for $850,000. What is the amount and character of the gain Teton would recognize on this sale? Let's assume the same facts as in Example 11-6 and in Exhibit 11-2, except that Teton sells the machinery for $160,000. What is the amount and character of the gain or loss Teton would recognize on this sale