davidson industries a sole proprietorship sold the following assets in 2016/
a. The following questions relate to the sale of the warehouse:
(1). What is the adjusted basis of the warehouse?
(2). What is the realized gain on the warehouse?
(3). What amount of the gain is taxed according to § 1250 rules?
(4). What amount is considered a § 1231 gain before netting?
b. The following questions relate to the sale of the truck:
(1). What is the adjusted basis of the truck?
(2). What is the realized gain on the truck?
(3). What amount of the gain is taxed according to § 1245 rules?
(4). What amount of the gain is taxed as ordinary income?
c. The following questions relate to the sale of the computer:
(1). What is the adjusted basis of the computer?
(2). What is the realized gain or loss on the sale?
(3). Which IRC section code applies to this asset?

