Federal taxation accounting question

blem Determine the gain or loss on the disposition of each piece of property listed below. Use the table provided to classify cach gain or loss from the disposition of property. Be sure to apply the overall netting process. A. In 2011, Terry Smith purchased a machine to use in his sole proprietorship for S56,000. Between the date of purchase and the date In 2018, Terry sold the machine for $42,000. B. Terry and Amanda Smith purchased Amazon Stock on July 4, 2015 for $10,000. On C. In August of 2018, Terry sold his jet ski for $5,000 that was used for family D. In 2016, Terry Smith purchased an imagining machine to use in his sole proprietorship of sale, Terry depreciated the machine $32,000. April 9, 2018, they sold their investment in Amazon Stock for $15,000. entertainment purposes. He purchased the jet ski in May of 2016 for $2,000. for $45,000. In 2018, Terry sold the imaging machine for $35,000. Between the date of E. In January of 2018, the Smith's sold their family boat for $4,000. They purchased the F. Terry has a delivery van which he decided he no longer needs in his business. He bought G. The Smith's sold their investment in Kmart Stock for $25,000 in July of 2018. The H. In 2018, the Smith's traded some beach front property that they purchased in 2015 for purchase and the date of sale, Terry depreciated the machine by $22,000 boat in March of 2016 for S5,000. it in 2014 for $24,000, has taken S19,000 of depreciation and sold it for $10,000. purchased the stock on November, 2011 for $29,000. S64,000, The Smith's received lake front property with a FMV of S91,000 and $13,000 cash. Instructions: Work out the answer to each of the 8 problems on the back of the page then enter the answers below. Show your work. Ordinary Sec. 1231 LT Capital -gain or(loss), Galn or (loss) not recognized income-or(loss)gain or(loss) On the tax return: How much ordinary gain will be reported? How much ordinary loss will be reported? How much long-term capital gain will be reported? How much long-term capital loss will be reported