ALL PARTS

Asset Information Requirements a. What is the recognized gain on the sale of the building and the character of the gain? b. What is the recognized gain on the sale of the land and the character of the gain? c. How much of the Sec. 1231 gain is taxed at 25% ? d. If Bay has NSTCL of $25,000, will the capital loss reduce the Sec. 1231 gain taxed at 25% or 20%