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only do a and c. I have part B correct already. don't waste your time doing it. Hauswirth Corporation sold (or exchanged) a warehouse in
only do a and c. I have part B correct already. don't waste your time doing it.
Hauswirth Corporation sold (or exchanged) a warehouse in year 0 . Hauswirth bought the warehouse several years ago for $84,000, and it has claimed $38,000 of depreclation expense against the building. Note: Loss amounts should be Indlcated 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 $60,400 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 $60,400, 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 recelves $33,500 In cash in year 0 and a $77,500 note recelvable that is payable In year 1 , compute the amount and character of Hauswirth's gain or loss in year 0 and in year 1. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Assuming that Hauswirth receives $60,400 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. (x) Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Assuming that Hauswirth receives $33,500 in cash in year 0 and a $77,500 note receivable that is payable in year 1 , compu the amount and character of Hauswirth's gain or loss in year 0 and in year 1
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