QUESTION 7 Moran owns a building he bought during year for $150,000. He sold the building in year 6 and received $109,000. During the time he held the building he depreciated it by $32,000 What is the amount of the unrecaptured $1250 gain? 61 QUESTIONS Bourne Guitars, a corporation, reported a $157,000 net $1231 gain for year 6 Bourne reported $51,000 of nonrecaptured $1231 losses during years 1-5. What amount of Bourne's net $1231 gain for year 6, if any, is treated as ordinary income? 6586 QUESTION 9 Morgan's Water World (MWW) an LLC, opened several years ago and reports the following net 51231 gains and losses ince it began business Year Year 1 Year 2 Year 3 Year 4 Year 5 Year Year 7 (current year) Net 51231 Gains Losses) (511,000) 5,000 (21,000) (4.000) 17.000 (40.000) 113.000 What amount if any of the year 7 $113.000 net 51231 gain is veated as ordinary income? 100001