Stan sells a piece of land he used in his auto repair business at a gain of $9,000 in 2016.In addition,Stan sells equipment he purchased in 2012 for $8,000.He paid $20,000 for the equipment that had an adjusted basis of $12,000 when it was sold.He also sells some stock in 2016 at a loss of $11,000.No losses on the disposition of assets were recognized in prior years.The effect of these transactions on Stan's 2016 taxable income is:

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The Answer of Stan sells a piece of land he used in his auto repair business at a gain of $9,000 in 2016.In addition,Stan sells equipment he purchased in 2012 for $8,000.He paid $20,000 for the equipment that had an adjusted basis of $12,000 when it was sold.He also sells some stock in 2016 at a loss of $11,000.No losses on the disposition of assets were recognized in prior years.The effect of these transactions on Stan's 2016 taxable income is:

Stan Sells a Piece of Land He Used in His