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Tax Drill - Section 1245 Recapture Jacob purchased business equipment for $56,000 in and has taken $35,000 of regular MACRS depreciation. Jacob sells the equipment

Tax Drill - Section 1245 Recapture Jacob purchased business equipment for $56,000 in and has taken $35,000 of regular MACRS depreciation. Jacob sells the equipment in for $26,000 What is the amount and character of Jacob's gain or loss? If an amount is zero, enter "O". Jacob has 1245 gain of and 1231 gain of

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