Curtowns anation building and find that an ured in his trade or buss. The toe building and land were acquired in 1978 for $1.100.000 and $300,000), respectively. During the aument vear the properties on told for 1 400,000 wth 35% of the selling price being allocated to the land Theates as shown on the payer's books before the ar an follow Click to conto wow the best on the taxpayers books before trol) Read the reques 01 Requirements. What is the recognized gan due to the sale of the buildeg? The recogned and other of the banding mountato Requirements. What is the character of the recognised on ono to site of the balang" (tore a wo sereny en balance of the recogedown from Parta 51231 Requirement What is the recognized an and character of the gain due to the sale of the land? What is the recognised ganse to the of the land to 1250 dinary income and The food gain due to the sale of the land amounts to Requirement c. What is the recognized gain and character of the gain due to the sale of the land? What is the recognized pain due to the sale of the land? The recognized gain due to the tale of the land amounts to What is the character of the gain due to the sale of the land? (Enter a "O for any zero blancos) of the recognized gain from sale of the land, is Soc 1250 ordinary income and is sec 1231 gain $ is Sec. 1 character o 1,025,000 (a) $ Building 1,100,000 Accumulated depreciation 75,000 Land 300,000 (a) If the straight-line method of depreciation had been used, the accumulated depreciation would be $935,000 Hand? mounts to recogn 1 a. What is the recognized gain due to the sale of the building? b. What is the character of the recognized gain due to the sale of the building? c. What is the recognized gain and character of the gain due to the sale of the land? and chl