Serena, an individual taxpayer, had the following sales of business property during the 2020 tax year:

1. Sold equipment on July 22, 2020 for gross proceeds of $16,000. The equipment was acquired on October 21, 2019 at a cost of $25,000 and accumulated depreciation was $4,300 at the time of the sale. Serena used an equipment broker on this sale and paid a sales commission of $1,600.
3. Sold a building on October 7, 2020 for $340,000, net of sales commissions of $15,000. Serena acquired the building on December 3, 2009 at a cost of $320,000. Accumulated depreciation has been computed using the straight-line method since acquisition and totaled $126,050 at the time of the sale.
5. Sold furniture on October 7, 2020 for $7,600. The furniture was acquired on December 3, 2009 for $15,000 and accumulated depreciation was $15,000 at the time of the sale.

Completed Form 4797 in Part III which is (Gain from disposition of property under section 1245,1250, 1252, 1254 and 1255).