Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $68,500 and it has claimed $35,000 of depreciation expense against the building (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 544.700 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 $44700 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 $22,000 in cash in year and a $70,000 note receivable that is payable in year 1, compute the amount and character of Hauswirth's gain or loss in year and in year 1 (Round "Gross Profit Percentage" to 2 decimal places.) Complete this question by entering your answers in the tabs below. Roga Reqb Reg Assuming that Hauswirth receives 544,700 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. Reg a Reqb Reqc Assuming that Hauswirth receives $44,700 in cash for the warehouse, compute the recognized gain or loss on the sale. Recognized Gain/(Loss) Character of Recognized Gain/(Loss): Ordinary Gain/(Loss) $1231 gain/loss) Reqb> Reg a Req b Reqc Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for so compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain a Gain realized Gain recognized Deferred gain Adjusted basis in new property Reqa Regb Reqc Assuming that Hauswirth receives $22,000 in cash in year 0 and a $70,000 note receivable that is payable in year 1, comp the amount and character of Hauswirth's gain or loss in year and in year 1. (Round "Gross Profit Percentage" to 2 decimal places.) Amount Character Description Amount Realized Original Basis Accumulated Depreciation Adjusted Basis Gain (Loss) Realized Depreciation Recapture Gain Eligible for installment Reporting Gross Profit Percentage Installment Gain (Loss) in year Installment Gain (Loss) in year 1 96 Che Hauswirth Corporation sold for exchanged) a warehouse in year o Hauswirth bought the warehouse several years ago for $68,500 and it has claimed $35,000 of depreciation expense against the building (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 544,700 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 $44700, 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 $22,000 in cash in year and a $70,000 note receivable that is payable in year 1. compute the amount and character of Hauswirth's gain or loss in year and in year 1. (Round "Gross Profit Percentage" to 2 decimal places.) Complete this question by entering your answers in the tabs below. Rega Regb Req Assuming that Hauswirth receives $44,700 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. Recognized Gain (Loss) Character of Recognized Gain (Loss) Ordinary Gain (Loss) 51231 gainosa) Regb> Complete this question by entering your answers in the tabs below. Rega Reg 4 Reqc Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some land with a fair market value of $44,700, compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land. Gain realized Gain recognized Deferred gain Adjusted basis in new property Lompe US questun y Ley your answers in the caus UW. Reg a Reg b Reqc Assuming that Hauswirth receives $22,000 in cash in year 0 and a $70,000 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. (Round "Gross Profit Percentage" to 2 decimal places.) Description Amount Character Amount Realized Original Basis Accumulated Depreciation Adjusted Basis Gain (Loss) Realized Depreciation Recapture Gain Eligible for installment Reporting Gross Profit Percentage Installment Gain (Loss) in your 0 Installment Gain (Loss) in year 1
