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51231 51245 s1250 Mark for know up Question 16 of 75 Which convention is...

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51231 51245 s1250 Mark for know up Question 16 of 75 Which convention is used for the year of disposition for a warehouse? O Mid-quater Straight-ine O Half year Mid-month Mark for follow up Question 17 of 75. Ruth sold land she purchased three months earlier for use in her business. Her cost (and adjusted basis) in the land is $75,000. She incurred seliling expenses of $5,000. The buyer paid $80,000 cash and assumed Ruth's $25 property. What is the amount of her gain, and where on Form 4797 will she report the sale? $25,000 on Part L O $25,000 on Part 1. $30,000 on Part O $30,000 on Part IV. Mark for follow up uestion 18 of 75 an exchange, Archie gave up his fully depreciated business-use dump truck (FMV $15,000) and $5,000 for a newer siness-use dump truck (FMV $20,000). What is the gain realized and recognized on the exchange? $15,000 realized gain: $0 recognized gain $0 realized gain; $15,000 recognized gain 20,000 realized gain; $5,000 recognized gain. 000 realized gain, $20,000 recognized gain. for follow up

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