On May $2,1993,$ Hannah Weather $($Social Security number: $111-22-3333)$ acquired residential real estate $($an apartment building$)$ for $$450,000.$ Of the cost, $$100,000$ was allocated to the land and $$350,000$ to the building. On August $20,2022,$ the building, which then had an adjusted basis of $$0,$ was sold for $$545,000$ and the land for $$200,000.$

If an amount is zero, enter $"0".$

Question Content Area

a$.$ Determine the amount and character of the recognized gain from the sale of the building.

There is a gain of $fill in the blank $092958$f$7$afac$011\_1$

from the sale of the building, of which $fill in the blank $092958$f$7$afac$011\_2$

is

due to $1250$ recapture.

Question Content Area

b$.$ Determine the amount and character of the recognized gain from the sale of the land.

The

from the sale of the land is $fill in the blank cea$449036$ffdfe$2\_2$

$,$ of which $fill in the blank cea$449036$ffdfe$2\_3$

is subject to recapture.

Question Content Area

c$.$ Complete Form $4797$ for these transactions. Assume that there are no $1231$ lookback losses.

If an amount is zero, enter $"0".$ Enter all amounts as positive numbers, however, if required, use the minus sign to indicate a loss.

Form $4797$

Department of the Treasury Internal Revenue Service

Sales of Business Property

$($Also Involuntary Conversions and Recapture Amounts

Under Sections $179$ and $280$F$($b$)(2))$

Attach to your tax return.

Go to www$.$irs.gov$/$form$4797$ for instructions and the latest information. OMB No$.1545-0184$

$2022$

Attachment

Sequence No$.27$

Name$($s$)$ shown on return

Hannah Weather Identifying number

$111-22-3333$

$1$a Enter the gross proceeds from sales or exchanges reported to you for $2022$ on Form$($s$)1099-$B or $1099-$S $($or substitute statement$)$ that you are including on line $2,10,$ or $20.$ See instructions $...................1$a

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 $..................................................................1$b

c Enter the total amount of loss that you are including on lines $2$ and $10$ due to the partial dispositions of MACRS assets $.........................................................................1$c

Part I 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$)$

$2($a$)$ Description of property $($b$)$ Date acquired $($mo$.,$ day, yr$.)($c$)$ Date sold $($mo$.,$ day, yr$.)($d$)$ Gross sales price $($e$)$ Depreciation allowed or allowable since acquisition $($f$)$ Cost or other basis, plus improvements and expense of sale $($g$)$ Gain or $($loss$)$ Subtract $($f$)$ from the sum of $($d$)$ and $($e$)$

fill in the blank d$370$aa$051$fd$3$ff$8\_4$

fill in the blank d$370$aa$051$fd$3$ff$8\_5$

fill in the blank d$370$aa$051$fd$3$ff$8\_6$

fill in the blank d$370$aa$051$fd$3$ff$8\_7$

$3$ Gain, if any, from Form $4684,$ line $39.................................................3$

$4$ Section $1231$ gain from installment sales from Form $6252,$ line $26$ or $37.........................4$

$5$ Section $1231$ gain or $($loss$)$ from like$-$kind exchanges from Form $8824...........................5$

$6$ Gain, if any, from line $32,$ from other than casualty or theft $....................................6$ fill in the blank d$370$aa$051$fd$3$ff$8\_8$

$7$ Combine lines $2$ through $6.$ Enter the gain or $($loss$)$ here and on the appropriate line as follows: $..........7$ fill in the blank d$370$aa$051$fd$3$ff$8\_9$

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.

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 $.........................8$

$9$ Subtract line $8$ from line $7.$ If zero or less, enter $-0-.$ 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 $...............9$

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$)$:

$11$ Loss, if any, from line $7...............$