$$1,200$

Question $20$

$2$ pts

Otis recognized a gain of $$23,000$ from the sale of business$-$use real estate held for $8$ years and an $58,000$ loss on business equipment held for $3$ years. He also realizen a $54,200$ loss on the sale of marketabie secunities held for is months and a $$3,500$ loss on uncollecthble account roceivables. He has no unrecaptumect section $1231$ thasses from prior years. How would Otis treat these transactions?

$57\mathrm{.}300$ long term capital gain

$$23,000$ing$-$term cheitat yinit $$75,700$ ordinary lass

$$15,000$ long$-$term cipital gain $$3,000$ long$-$term capial iass; $$3,500$ ordifary lass

$$10,000$ long$-$term capital gain; $$3,500$ ond nary boss