The following is a 2-year problem for a sole proprietor, Garcia, who sold the following assets this year. He used the equipment, building, and warehouse in his business. He held the land for investment.

Asset	Purchase Date	Sale Date	Gain (Loss)
Buildinga	4/14/2016	1/1/2019	$16,800
Warehouseb	7/14/2001	10/15/2019	33,700
Equipment c	8/2/2018	10/5/2019	8,000
Stock	12/6/2018	12/1/2019	4,000
Land	9/1/2014	12/1/2019	5,000
Land	9/1/2014	12/1/2019	(50,000)
Artwork	3/12/2011	8/9/2019	(20,100)

a At the time of the sale, the accumulated depreciation on the building was $12,050.

b At the time of the sale, the accumulated depreciation on the warehouse was $30,000.

c At the time of the sale, the accumulated depreciation on the equipment was $3,200.

Garcias marginal tax rate on ordinary income in 2019 is 30%, and his preferential tax rate is 15%. How much tax does Garcia owe for 2019 as a result of the above transactions? The Section 1231 and capital gain netting process are the same for the 2019 and 2020 tax years.

The Gain/loss column that cutoff is

16,800

33700

8000

4000

5000

(50000)

(20100)