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a) b) c) Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $66,500, and it has
a)
Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $66,500, and it has claimed $23,400 of depreciation expense against the building. Note: Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Round your final answers to the nearest whole dollar amount. Required: a. Assuming that Hauswirth receives $52,900 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. b. Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some land with a fair market value of $52.900, compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land. c. Assuming that Hauswirth receives $25,500 in cash in year 0 and a $54,500 note receivable that is payable in year 1 . compute the amount and character of Hauswirth's gain or loss in year 0 and in year 1. Complete this question by entering your answers in the tabs below. Assuming that Hauswirth receives $52,900 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. Complete this question by entering your answers in the tabs below. Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some land with a fair market value of $52,900, compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land. Assuming that Hauswirth receives $25,500 in cash in year 0 and a $54,500 note recelvable that is payable in year 1 , compute the amount and character of Hauswirth's gain or loss in year 0 and in year 1 b)
c)
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