Hauswirth Corporation sold $($or exchanged$)$ a warehouse in year $0.$ Hauswirth bought the warehouse several years ago for $$102,000,$

and it has claimed $$33,800$ of depreciation expense against the building.

Required:

a$.$ Assuming that Hauswirth receives $$80,500$ 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 $$80,500,$

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 $$27,500$ in cash in year $0$ and a $$88,500$ 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 $$80,500$ 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. c$.$ Assuming that Hauswirth receives $$27,500$ in cash in year $0$ and a $$88,500$ 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 $$27,500$ in cash in year $0$ and a $$88,500$ 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.

Show less $A$

$\backslash$table$[[$Description$,$Amount,,Character,$],[$Sales price,$$,80,500,,,],[$Original Basis,$$,102,000,,,],[$Accumulated Depreciation,$$,33,800,,,],[$Adjusted Basis,$$,68,200,,,],[$Gain $($Loss$)$ Realized,$$,12,300,,,],[$Depreciation Recapture,$$,12,300,,,$Ordinary Income$],[$Gain Eligible for Installment Reporting,$$,0,,,],[$Gross Profit Percentage,,$15\mathrm{.}27,,,],[1231$ gain recognized in year $0,$$$,12,300,,,],[1231$ gain recognized in year $1,$$$,0,,,]]$