Federal Income Tax I

1. When an individual taxpayer has a net long-term capital gain that includes both a 28% gain and a 0%/15%/20% gain, which of these gains will be taxed first when the alternative tax on net long-term capital gain method is used and what difference does it make?
2. Explain the impact on the taxpayer's taxable income if the taxpayer a) did or b) did not sell the stock. Describe the circumstances in which the potential 1245 depreciation recapture is extinguished. Depreciable personal property was sold at a gain in 2018. On what 2018 form would this transaction be reported, where initially in that form, and what will the form most likely do with the gain?