3. On December 1, 2018, Joe Jackson purchased a home for $90,000. On June 1, 2019, Joe received a job offer that would require him to move across the country. On August 1, 2019, Joe sold his house for $100,000 and moved to his new location. Upon relocating, Joe purchased a new home for $95,000. What is his recognized gain on the sale of his first house? A. SO B. $3,333 C. $6,667 D, $10,000 4. During the current year, Hugo sells equipment for $150,000. The equipment cost $175,000 when placed in service two years ago, and $55,000 of depreciation deductions were allowed. The results of the sale are A. LTCG of $30,000. B. Sec. 1231 gain of $30,000. c. Sec. 1245 ordinary income of $30,000 Sec. 1250 ordinary income of $30,000