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I am really struggling with this if anyone could help Required information [The following information applies to the questions displayed below.] Buckley, an individual, began

I am really struggling with this if anyone could helpimage text in transcribedimage text in transcribed

Required information [The following information applies to the questions displayed below.] Buckley, an individual, began business two years ago and has never sold a 1231 asset. Buckley has owned each of the assets since he began the business. In the current year, Buckley sold the following business assets Accumulated Asset Computers Machinery Furniture Building Original Cost Depreciation Gain/Loss (3,000) (2,000) 7,000 (1,000) $ 6,000 10,000 20,000 100,000 2,000 4,000 12,000 10,000 Assuming Buckley's marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios: (Loss amounts should be indicated by a minus sign. Input all other amounts as positive values.) a1. What is the amount and character of Buckley's gains or losses for the current year? a2. Calculate Buckley's tax liability or tax savings for the year Complete this question by entering your answers in the tabs below Req a1 Req a2 What is the amount and character of Buckley's gains or losses for the current year? Description Amount 1231 gain 1231 loss S1245 gain S1245 loss

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