(Solved): Required information [The following information applies to the questions displayed below.] Buckley ...

Required information [The following information applies to the questions displayed below.] Buckley, an individual, began business two years ago and has never sold a \( \S 1231 \) asset. Buckley has owned each of the assets since he began the business. In the current year, Buckley sold the following business assets: Assuming Buckley's marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios: Required: a1. What is the amount and character of Buckley's gains or losses for the current year? a2. Calculate Buckley's tax liability or tax savings for the year. Complete this question by entering your answers in the tabs below. What is the amount and character of Buckley's gains or losses for the current year? Required information [The following information applies to the questions displayed below.] Buckley, an individual, began business two years ago and has never sold a \( \S 1231 \) asset. Buckley has owned each of the assets since he began the business. In the current year, Buckley sold the following business assets: Assuming Buckley's marginal ordinary income tax rate is 32 percent, answer the questions for the following alternative scenarios: Required: a1. What is the amount and character of Buckley's gains or losses for the current year? a2. Calculate Buckley's tax liability or tax savings for the year. Complete this question by entering your answers in the tabs below. Calculate Buckley's tax liability or tax savings for the year.