Ruth sold land she purchased three months $75,000. She incurred $5,000 in expenses related to the sale. The buyer paid 580,000 cash and mortgage on the property. What is the amount of her gain, and where on Form 4797 will she reps 12 O $25,000. Part l. $25,000. Part II. O $30,000, Part II O $30,00o, Part IV. Mark for follow up earlier for use in her business. Her cost (and Question 21 of 75 ce building that he had owned and rented to the same tenant for 15 years. The euar MACRS. Julius sold the building at a gain. On which part of Form 4797 is the During the tax year Julius sold an office building had been depreciated using sale of the building reported and what IRC Section de that M ACR at IR Section determines the type of gain? O Part I, $1231 O Part ll, $1231 O Part III, $1245. O Part IlI, $1250. Mark for follow up turn Later Summary Next save/ Re Back