Assume that the building in problem 68 is an apartment building held for investment. In addition to the sale of the building, Anton has the following capital gains and losses during 2020:

Short-term capital loss ..................................$ 4,000

Collectibles gain ................................................7,000

Long-term capital gain ...................................15,000

Long-term capital loss carryover from 2019.. 6,000

Anton is single and has a taxable income of $175,000 without considering his capital gains and losses. What is his taxable income and income tax liability?

Data from Problem 68

Anton purchases a building on May 4, 2002, at a cost of $270,000. The land is properly allocated $30,000 of the cost. Anton sells the building on October 18, 2020, for $270,000. What is the character of Anton’s gain or loss on the sale if he uses the regular MACRS system and the building is