Gain or loss on the sale of the following property might be recharacterized under Code Sec 1231: 1. The gain on the sale of a backhoe used in taxpayer's construction business. 2. The loss on the sale of stock owned by taxpayer for six months. 3. The loss on the condemnation of a building lot purchased by the taxpayer 10 years ago and held for appreciation in value. 4. Both 1 and 2 . 5. Both 1 and 3