Given the following data:
Purchase date: 01/01/2001
Building: 800k
Land: 200k
Sale date: 07/01/2022
Building price: 1,200k
Land price: 300k
Depreciation taken: 600k

I figured that:
- The capital gain is 500k
- The section 1250 gain (depreciation recapture) is 600k

How do I report the gain? Specifically, do I report:

- capital gain of 100k for the land in part I of form 4797
- capital gain of 400k for the building in part III of form 4797
- section 1250 gain of 600k for the building depreciation in part III of form 4797?

The Proconnect software does it report the capital gain for the land in part I, it reports in part III, and I have to force it, and that is why I need to make sure it is correct.