Calculation of Gain or Loss, Section 1231 Gains and Losses (LO 8.7, 8.8)

Frank Willingham has the following transactions during the year:

Sale of office equipment on March 15 that cost $51,800 when purchased on July 1, 2019. Frank has claimed $10,360 in depreciation and sells the asset for $46,620 with no selling costs.

Sale of land on April 19 for $193,400. The land cost $212,740 when purchased on February 1, 2010. Frank's selling costs are $38,680.

Assume there were no capital improvements on either business asset sold. Frank's Social Security number is 924-56-5783.

Complete Form 4797 to report the above gains or losses.

Form 4797 Department of the Treasury Internal Revenue Service	Sales of Business Property (Also Involuntary Conversions and Recapture Amounts Under Sections 179 and 280F(b)(2)) Attach to your tax return. Go to www.irs.gov/Form4797 for instructions and the latest information.	OMB No. 1545-0184
		2021 Attachment Sequence No. 27

Name(s) shown on return Frank Willingham

Identifying number 924-56-5783

1a	Enter the gross proceeds from sales or exchanges reported to you for 2021 on Form(s) 1099-B or 1099-S (or substitute statement) that you are including on line 2, 10, or 20 (see instructions) . . . . . . . . . . . . . .	1a
b	Enter the total amount of gain that you are including on lines 2, 10, and 24 due to the partial dispositions of MACRS assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	1b
c	Enter the total amount of loss that you are including on lines 2 and 10 due to the partial dispositions of MACRS assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	1c

Part I	Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From Other Than Casualty or TheftMost Property Held More Than 1 Year (see instructions)

2	(a) Description of property	(b) Date acquired (mo., day, yr.)	(c) Date sold (mo., day, yr.)	(d) Gross sales price	(e) Depreciation allowed or allowable since acquisition	(f) Cost or other basis, plus improvements and expense of sale	(g) Gain or (loss) Subtract (f) from the sum of (d) and (e)
Land		02/01/10	04/19/21	193,400	0	What is this answer?

What is (F) and how did you figure the answer out. Thanks