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Complete this question by entering your answers in the tabs below. Required a Assuming that Hauswirth receives $ 7 1 , 1 0 0 in

Complete this question by entering your answers in the tabs below.
Required a
Assuming that Hauswirth receives $71,100 in cash for the warehouse, compute the amount and character of Hauswirth's
recognized gain or loss on the sale.
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. Return
Required a
Required b
Required c
Assuming that Hauswirth receives $29,500 in cash in year 0 and a $85,500 note receivable that is payable in year 1, compute the amount and character of Hauswirth's gain or loss in year 0 and in year 1.
Note: Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. Round your final answers to the nearest whole dollar amount.
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\table[[Description,Amount,,Character],[Sales price,$,115,000vv,],[Original Basis,$,90,000,,],[Accumulated Depreciation,$,(35,200),,],[Adjusted Basis,$,54,800,,],[Gain (Loss) Realized,$,60,200,,],[Depreciation Recapture,,,,Ordinary Income],[Gain Eligible for Installment Reporting],[Gross Profit Percentage,,,%,],[1231 gain recognized in year 0,,,,Section 1231 gain],[1231 gain recognized in year 1,,,,Section 1231 gain]]Comprehensive Problem 11-69(LO 11-1, LO 11-2, LO 11-3, LO 11-4, LO 11-5, LO 11-6)(Algo)
Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $90,000,
and it has claimed $35,200 of depreciation expense against the building.
Required:
a. Assuming that Hauswirth receives $71,100 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 $71,100,
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 $29,500 in cash in year 0 and a $85,500 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.
Required a
Required b
Assuming that Hauswirth receives $71,100 in cash for the warehouse, compute the amount and character of Hauswirth's
recognized gain or loss on the sale.
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. Please help solve the rest, thank you!
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