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:
Entrepreneur's Potential Earnings
Represents the possible income or profits an entrepreneur can expect to make from their business ventures, considering risks and the opportunity cost of alternative employment.
Annual Lease
An agreement where a lessor allows a lessee to use a property for a period of one year in exchange for payment.
Entrepreneur's Forgone Interest
The potential interest income sacrificed by an entrepreneur when choosing to invest personal funds into their own business rather than in an interest-bearing account.
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