Problem
Quack purchased a building for $3,000,000 in 2008. Quack sold the building in 2012 for $3,700,000. The adjusted basis of the building when sold is $2,700,000.
(a) What is Quack's Section 1250 recapture on this transaction?
(b) What is Quack's Unrecaptured 1250 gain on this transaction?
(c) What is Quack's Section 1231 gain on this transaction?