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. (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.)

1. a. Assuming that Hauswirth receives $80,500 in cash for the warehouse, compute the amount and character of Hauswirths recognized gain or loss on the sale.
2. 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 Hauswirths gain or loss in year 0 and in year 1.

Complete this question by entering your answers in the tabs below. Rega Reg b Reqc 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. Recognized Gain/(Loss) $ 12,300 Character of Recognized Gain/(Loss): Ordinary Gain/(Loss) $1231 gain (loss) Reg a Reqb Reqc 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. Character $ $ Amount 116,000 102,000 (33,800) 68,200 47,800 $ Description Sales price Original Basis Accumulated Depreciation Adjusted Basis Gain (Loss) Realized Depreciation Recapture Gain Eligible for Installment Reporting Gross Profit Percentage $1231 gain recognized in year 0 $1231 gain recognized in year 1 $ $ Ordinary Income % Section 1231 gain Section 1231 gain