$(3)2023$

Required information

$[$The following information applies to the questions displayed below.$]$

Moran owns a building he bought during year $0$ for $$189,000.$ He sold the building in year $6.$ During the time he held the building, he depreciated it by $$37,750.$

What are the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations?

Note: Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answers blank. Enter zero if applicable.

b$.$ Moran received $$244,000.$

Description

Total Gain or $($Loss$)$ Recognized

NA

Remaining $1231$ gain or $($loss$)$