I Short-term Capital Loss $ $ Asset 4 Building 5 Farm land 6 Racehorse 7 Equipment 8 XCON stock Amount Realized 400,000 50,000 250,000 100,000 50,000 Adjusted Basis 300,000 15,000 40,000 220,000 112,000 | E F G H CHARACTER OF GAIN OR LOSS Realized/Recognized | $291 1245 1231 $1231 Gain (Loss) Recapture Recapture Gain Los $ 100,000 $ 20,000 $ 80,000 35,000 35,000 210,000 160,000 50,000 (120,000) 120,000 (62,000) GROSS TOTALS $ 20,000 $ 160,000 $ 165,000 $ 120,000 LESS: LOOKBACK LOSS (10,000) NET TOTALS $ 20,000 $ 160,000 $ 155,000 $ 120,000 62,000 62,000 $ $ 62,000 Net $1231 Gain (Loss)