Anton purchases a building on May 4, 2003, at a cost of $270,000. Of this amount, the land is properly allocated $30,000 of the cost. Anton sells the building and land on October 18, 2020, for $270,000.

(3)Assume that the building is an apartment building held for investment as discussed in Part (1). In addition to the sale of the building, Anton has the

attached capital gains and losses during 2020. Anton is single and has a taxable income of $175,000 without considering his capital gains and losses. What is his taxable income and income tax liability?

TAXPAYER ANTON CAPITAL GAINS AND LOSSES FOR TAX YEAR 2020
Short term capital loss	$ 4,000
Collectibles gain	7,000
Long term capital gain	15,000
Long term capital loss carryover from 2019	6,000