During $2023,$ C Corp$/$S Corp$/$Partnership sold machinery for $$1,000,000$ The machinery was purchased in $2022$ at an original cost of $$800000$ Assume that depreciation deductions allowable for the years $5$ through the date of sale totaled $$1,5000$ WHAT IS THE AMOUNT OF GAIN$/$LOSS ON THE TRANSACTION AND WHAT IS THE CHARACTER OF THE GAIN$/$LOSS$?$

Assume the same facts as question $2$ except the asset is sold ford $${15}^{0000}$ In $2022$ C Corp$/$S Corp$/$Partnership had a Section $1231$ loss of $${10}^{00}$ There have been no other property transactions since then. WHAT IS THE AMOUNT OF GAIN$/$LOSS ON THE TRANSACTION AND WHAT IS THE CHARACTER OF THE GAIN$/$LOSS$?$

During $2023,$ C Corp$/$S Corp$/$Partnership sold land and a building for $$2,000,000$ The selling price was allocated $$500$ to land and $$800$ to building. The land and building were purchased in $2022$ at an original cost of $$1500($allocated $$500$ to land and $$800$ to building$).$ Assume that depreciation deductions allowable under MACRS for the years $5$ through the date of sale on the building totalled $$2000.$ WHAT IS THE AMOUNT OF GAIN$/$LOSS ON THE TRANSACTION AND WHAT IS THE CHARACTER OF THE GAIN$/$LOSS$?($The company has never had a property transaction in the past$).$