BB had net unrecognized built-in gain from prior years of $400,000 as of January 1, 2023. The entire gain was attributable to unimproved land that BB owned. The land was originally purchased for $250,000 on June 16, 2008. On August 1, 2023, BB sold the unimproved land for a sales price of $850,000 (net of selling commissions). BB did not receive a Form 1099-B reflecting the sale. The land was held by BB as an investment asset only and was not connected with its beer business. Other than the unimproved land, BB did not dispose of any assets during the year