1. A business machine purchased February 10, 2016, for $72,000 was fully depreciated in 2016 using 179 immediate expensing. On September 15, 2017, the sole proprietor who owned the machine gave it to his son. On that date, the machines fair market value was $63,000. The son did not use the machine in business or hold it as inventory and the machine was sold on November 22, 2017, for $48,000.What is the amount and nature of the gain or loss from disposition of the machine? Where is it reported in the sons tax return?