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need help with a and c Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $61.500.
need help with a and c
Hauswirth Corporation sold (or exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $61.500. and it has claimed $33,800 of depreciation expense against the building. (Loss amounts should be lndlceted by a minus slgn. Leeve no answer blank. Enter zero lf appllcable. Round your finel answers to the neerest whole doller amount.) Recuired: a. Assuming that Hauswirth receives $43,800 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 $43.800. 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 $20.500 in cash in year 0 and a $59.500 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 $43,800 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the saleStep by Step Solution
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