Copper Industries $($a sole proprietorship$)$ sold three $1231$ assets during $2023.$ Data on these property dispositions are as follows:

Asset

Cost

Acquired Accumulated

Depreciation

Sold For

Sold On

Rack $$131,60010/10/20$ $$85,540$ $$65,80010/10/23$

Forklift $52,64010/16/2026,32019,74010/10/23$

Bin $118,44003/12/2239,48065,80010/10/23$

If an amount is zero, enter $"0".$

Question Content Area

a$.$ Determine the amount and the character of the recognized gain or loss from the disposition of each asset.

Asset

Character of

Gain or Loss Total

Amount of

Gain or Loss Amount of

$1245$

Recapture

Balance of

Gain or Loss

Rack

Ordinary income

fill in the blank c$944$edffbf$81$fab$\_2$

fill in the blank c$944$edffbf$81$fab$\_3$

fill in the blank c$944$edffbf$81$fab$\_4$

Forklift

$1231$ loss

fill in the blank c$944$edffbf$81$fab$\_6$

fill in the blank c$944$edffbf$81$fab$\_7$

fill in the blank c$944$edffbf$81$fab$\_8$

Bin

$1231$ loss

fill in the blank c$944$edffbf$81$fab$\_10$

fill in the blank c$944$edffbf$81$fab$\_11$

fill in the blank c$944$edffbf$81$fab$\_12$

Copper has $fill in the blank c$944$edffbf$81$fab$\_13$

of

due to $1245$ recapture and $fill in the blank c$944$edffbf$81$fab$\_15$

of $1231$

$.$

Question Content Area

b$.$ Assuming that Copper has $$13,160$ nonrecaptured net $1231$ losses from prior years, analyze these transactions and determine the amount $($if any$)$ that will be treated as a long$-$term capital gain.

$fill in the blank