I have to fill out form 4797, based on my homework question which is completed down below. I just don't know how to fill out the 4797 if anyone could please help it would be so helpful thank you!

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: Asset Computers Machinery Furniture Building Original Cost $ 6,000 10,000 20,000 100,000 Accumulated Depreciation $ 2,000 4,000 12,000 10,000 Gain/Loss $ (3,000) (2,000) 7,000 (1,000) Assuming Buckley's marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios: Problem 11-47 Part-a (Static) 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 al Req a2 What is the amount and character of Buckley's gains or losses for the current year? Amount Description $1231 loss $1245 gain 6,000 $ 7,000 Explanation a-1. & a-2. Buckley's net $1245 gain is $7,000 and his net $1231 loss is $6,000 and is calculated as follows: Asset Computers Machinery Furniture Building Description $1231 loss* $1231 loss* $1245 recapture $1231 loss* Amount $ (3,000) $ (2,000) $ 7,000 $ (1,000) *Because Buckley has only $1231 losses they become ordinary losses. Character $1245 recapture $1231 loss Tax increase Amount (1) $ 7,000 $ (6,000) Rate (2) 32% Tax (1) x (2) $ 2, 240 $ (1,920) $ 320 32% 4797 Form Sales of Business Property OMB No. 1545-0184 (Also Involuntary Conversions and Recapture Amounts Under Sections 179 and 280F(b)(2)) 2021 Attach to your tax return. Attachment Go to www.irs.gov/Form4797 for instructions and the latest information. Sequence No. 27 Identifying number Department of the Treasury Internal Revenue Service Name(s) shown on return 1a Enter the gross proceeds from sales or exchanges reported to you for 2021 on Form(s) 1099-B or 1099-S (or substitute statement) that you are including on line 2, 10, or 20. See instructions 1a b Enter the total amount of gain that you are including on lines 2, 10, and 24 due to the partial dispositions of MACRS assets 1b c Enter the total amount of loss that you are including on lines 2 and 10 due to the partial dispositions of MACRS assets. 1c Partl Sales or Exchanges of Property Used in a Trade or Business and Involuntary Conversions From Other Than Casualty or Theft-Most Property Held More Than 1 Year (see instructions) (e) Depreciation (1) Cost or other 2 (a) Description (b) Date acquired (c) Date sold (d) Gross (g) Gain or (loss) allowed or basis, plus of property (mo., day, yr.) (mo., day, yr.) sales price allowable since improvements and Subtract (t) from the sum of (d) and (e) acquisition expense of sale 3 3 4 4 5 5 Gain, if any, from Form 4684, line 39 Section 1231 gain from installment sales from Form 6252, line 26 or 37 Section 1231 gain or loss) from like-kind exchanges from Form 8824. Gain, if any, from line 32, from other than casualty or theft. Combine lines 2 through 6. Enter the gain or loss) here and on the appropriate line as follows Partnerships and S corporations. Report the gain or loss) following the instructions for Form 1065, Schedule K, line 10, or Form 1120-S, Schedule K, line 9. Skip lines 8, 9, 11, and 12 below. 6 7 6 7 8 Individuals, partners, S corporation shareholders, and all others. If line 7 is zero or a loss, enter the amount from line 7 on line 11 below and skip lines 8 and 9. If line 7 is a gain and you didn't have any prior year section 1231 losses, or they were recaptured in an earlier year, enter the gain from line 7 as a long-term capital gain on the Schedule D filed with your return and skip lines 8, 9, 11, and 12 below. 8 Nonrecaptured net section 1231 losses from prior years. See instructions 9 Subtract line 8 from line 7. If zero or less, enter -O-. If line 9 is zero, enter the gain from line 7 on line 12 below. If line 9 is more than zero, enter the amount from line 8 on line 12 below and enter the gain from line 9 as a long-term capital gain on the Schedule D filed with your return. See instructions. Part II Ordinary Gains and Losses (see instructions) 10 Ordinary gains and losses not included on lines 11 through 16 (include property held 1 year or less): 9 11 11 Loss, if any, from line 7 Cain if a framina zaramount from linee if analisabla 10