Short Tax Form  purchases a fourplex on January 8, 2019, for \($175,000.\) She allocates \($25,000\) of the cost to the land, and she deducts MACRS depreciation totaling \($16,364.\) Barbara sells the fourplex to an unrelated person on January 6, 2022, for \($225,000.\) The buyer assumes the existing mortgage of \($180,000,\) pays \($15,000\) down, and agrees to pay \($15,000\) per year for two years plus 12% interest. Barbara incurs selling expenses of \($18,000.\) Complete Form 6252.

Data From  Form 6252 

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Form 6252 Department of the Treasury Internal Revenue Service Name(s) shown on return 1 Barbara B. Kuhn Installment Sale Income Attach to your tax return. Use a separate form for each sale or other disposition of property on the installment method. Go to www.irs.gov/Form6252 for the latest information. Description of property 2a Date acquired (mm/dd/yyyy) 4. Fourplex 01/08/2019 b Date sold (mm/dd/yyyy) OMB No. 1545-0228 2022 Attachment Sequence No. 67 Identifying number 987-65-4321 01/06/2022 3 Was the property sold to a related party? See instructions. If "Yes," complete Part III for the year of sale and 2 years after the year of sale unless you received the final payment during the tax year. 4 Reserved for future use Yes No Yes No Part I 56 5 Gross Profit and Contract Price. Complete this part for all years of the installment agreement. Selling price including mortgages and other debts. Don't include interest, whether stated or unstated Mortgages, debts, and other liabilities the buyer assumed or took the property 5 225,000 subject to (see instructions). 6 180,000 7 Subtract line 6 from line 5 7 45,000 8 Cost or other basis of property sold 8 175,000 9 Depreciation allowed or allowable. 9 16,364 10 Adjusted basis. Subtract line 9 from line 8 10 158,636 11 Commissions and other expenses of sale 11 18,000 12 Income recapture from Form 4797, Part III (see instructions) 12 13 Add lines 10, 11, and 12. 13 176,636 14 Subtract line 13 from line 5. If zero or less, don't complete the rest of this form. See instructions 14 48,364 15 If the property described on line 1 above was your main home, enter the amount of your excluded gain. See instructions. Otherwise, enter -0- . 15 -0- 16 17 618 Gross profit. Subtract line 15 from line 14 16 48,364 Subtract line 13 from line 6. If zero or less, enter -0- . 17 3,364 18 Contract price. Add line 7 and line 17 18 48,364