The following gains and losses pertain to Jimmy's business assets that qualify as Sec.1231 property.Jimmy does not have any nonrecaptured net Sec.1231 losses from previous years,and the portion of gain recaptured as ordinary income due to the depreciation recapture provisions has been eliminated. 
Describe the specific tax treatment of each of these transactions.
Definitions:
Independent Variables
Variables in statistical models that are manipulated or categorized to observe their effect on dependent variables.
Quantitative Predictor Variables
Variables that can be quantified and measured and are used to predict outcomes in statistical analyses.
Indicator Variables
Variables used in statistical models that take the value of 1 if a certain condition is met and 0 otherwise, often used to represent categorical data.
Regression Model
A statistical model used to estimate the relationship between a dependent variable and one or more independent variables.
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