The following are gains and losses recognized in 2015 on Ann's business assets that were held for more than one year.The assets qualify as Sec.1231 property. 
A summary of Ann's net Sec.1231 gains and losses for the previous five-year period is as follows: 
Describe the specific tax treatment of each of the current year transactions.
Definitions:
Marginal Tax Rate
The rate at which the last dollar of a taxpayer's income is taxed, indicating the percentage of additional income that is paid in tax.
Efficiency
The optimal use of resources to achieve the best possible outcome or output with minimal waste.
Equity
Equity refers to fairness or justice in the way people are treated and involves ensuring equal opportunities and rights for all individuals.
Benefits Principle
A theory in taxation where taxes are apportioned according to the benefits received by taxpayers; those who benefit more from government services, pay more taxes.
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