Required information [The following information applies to the questions displayed below.] Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) a1. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $450,00 a2. What effect does the sale have on Hart's tax liability for the year? Complete this question by entering your answers in the tabs below. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $450,000? Required information [The following information applies to the questions displayed below.] Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) a1. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $450,000 ? a2. What effect does the sale have on Hart's tax liability for the year? Complete this question by entering your answers in the tabs below. What effect does the sale have on Hart's tax liability for the year? Required information [The following information applies to the questions displayed below.] Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) b1. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $550,00 b2. What effect does the sale have on Hart's tax liability for the year? Complete this question by entering your answers in the tabs below. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $550,000? Required information [The following information applies to the questions displayed below.] Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) b1. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $550,00 b2. What effect does the sale have on Hart's tax liability for the year? Complete this question by entering your answers in the tabs below. What effect does the sale have on Hart's tax liability for the year? Required information [The following information applies to the questions displayed below.] Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) c1. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $350,000 c2. What effect does the sale have on Hart's tax liability for the year? Complete this question by entering your answers in the tabs below. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $350,000 ? Required information [The following information applies to the questions displayed below.] Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) c1. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $350,000 c2. What effect does the sale have on Hart's tax liability for the year? Complete this question by entering your answers in the tabs below. What effect does the sale have on Hart's tax liability for the year? Required information [The following information applies to the questions displayed below.] Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) d1. What are the amount and character of Hart's recognized gain or loss if the asset is a nonresidential building sold for $450,000 d2. What effect does the sale have on Hart's tax liability for the year? Complete this question by entering your answers in the tabs below. What are the amount and character of Hart's recognized gain or loss if the asset is a nonresidential building sold for $450,000? Required information [The following information applies to the questions displayed below.] Hart, an individual, bought an asset for $500,000 and has claimed $100,000 of depreciation deductions against the asset. Hart has a marginal tax rate of 32 percent. Answer the questions presented in the following alternative scenarios (assume Hart had no property transactions other than those described in the problem): (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.) d1. What are the amount and character of Hart's recognized gain or loss if the asset is a nonresidential building sold for $450,000 d2. What effect does the sale have on Hart's tax liability for the year? Complete this question by entering your answers in the tabs below. What effect does the sale have on Hart's tax liability for the year? NA Ordinary Income - 1245 depreciation recapture Ordinary Income - 8291 depreciation recapture Unrecaptured $1250 gain (and $1231 gain) Unrecaptured 1250 loss (and 1231 loss)