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Problem 8-37 (LO. 6, 7) Amber Industries (a sole proprietorship) sold three 1231 assets during 2023 . Data on these property dispositions are as follows:
Problem 8-37 (LO. 6, 7) Amber Industries (a sole proprietorship) sold three 1231 assets during 2023 . Data on these property dispositions are as follows: a. Determine the amount and the character of the recognized gain or loss from the disposition of each asset. If an amount is zero, enter "O". Amber has $ of due to 1245 recapture. Additionally, she has $ of net 1231 b. Assuming that Amber has $5,000 nonrecaptured net 1231 losses from the five prior years, analyze these transactions, and determine the amount (if any) that will be treated as a long-term capital gain
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