Problem: Nancy transfers to Window Corporation depreciable machinery originally costing $ 25000 and now having? a(n) $ 18000 adjusted basis. In? exchange, Nancy receives all 275 shares of Window stock having? a(n) $ 22000 fair market value? (FMV) and a? three-year Window note having? a(n) $ 9000 FMV. Identify the amount and character of Nancy?'s recognized gain or loss by completing the table below. ?( Enter a 0 for any zero balances. Enter a loss with a minus sign or? parentheses.)
Recognized loss, ordinary in character =
Recognized loss, falls under Sec. 1231 =