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Short Tax Form. George Buckner sells an apartment building on October 10 for $1.75 million. The building was purchased on January 1, 1999, for $2

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Short Tax Form. George Buckner sells an apartment building on October 10 for $1.75 million. The building was purchased on January 1, 1999, for $2 million. Depreciation of $420,000 has been taken. The figures given above do not include the purchase price or the selling price of the land. Mr. Buckner's adjusted basis for the land is $200,000, and the sales price is $350,000. Mr. Buckner, who owns and operates a taxi business, sells one of the automobiles for $1,800 on November 14th. The automobile's adjusted basis is zero, and the original cost is $15,000. The automobile was purchased on April 25, 2010. Mr. Buckner has no other gains and losses during the year, and nonrecap- tured net Sec. 1231 losses amount to $32,000. Prepare Form 4797

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