The Chart Below Describes the § 1231 Assets Sold by the Ecru

Essay

The chart below describes the § 1231 assets sold by the Ecru Company (a sole proprietorship)this year.Compute the gain or loss from each asset disposition and determine the net § 1231 gain treated as long-term capital gain for the year.Assume there is a § 1231 lookback loss of $4,000.
Asset
Acquired
Sold
Cost
Depreciation
Sale Price
Stamping machine
3/10/12
8/10/2016
$40,000
$29,736
$32,000
Factory building
2/12/09
7/23/2016
80,000
18,838
90,000
Tractor
5/16/11
11/13/2016
52,000
52,000
30,000
Overhead crane
11/12/05
2/25/2016
74,000
74,000
18,000