Return to question 07 5 15 pointi Hauswirth Corporation sold for exchanged) a warehouse in year 0. Hauswirth bought the warehouse several years ago for $79.000, and it has claimed $42,600 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 $54,100'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 $54100 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 $35,000 in cash in year and a $75,500 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: Answer is not complete Complete this question by entering your answers in the tabs below. Rega Reb Rec Assuming that Hauswirth receives $54,100 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. 17.700 Recognized Gavions) Character of Recognized GiviLoss) Ordinary Garfos) $ 17,700 - Return to questo 5 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 $35,000 in cash in year and a $75,500 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. 15 ports Answer is not complete. Complete this question by entering your answers in the tabs below. Rega Reqb Reqc Assuming that Hauswirth receives $54,100 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. Recognized Gain Loss) 17,700 Character of Recognized GallLossy Ordinary Gain Loss) $ 17,700 $1231 anos) S 0 Regb> For the work you have completed so far. It does not indicate completion Return to question 5 b. Assuming that Hauswirth exchanges the warehouse in a like kind exchange for some land with a fair market value of $54,100, 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 $35,000 in cash in year and a $75,500 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. 15 po Answer is not complete. Complete this question by entering your answers in the tabs below. Rega Rec Assuming that Hauswirth exchanges the warehouse in a like-kind exchange for some tand with a fair market value of $54,100, compute Hauswirth's realized gain or loss, recognized gain or loss, deferred gain or loss, and basis in the new land. $ 17,700 Gain realed Gain recognized Deferred gain Adjusted basis in new property 17.700 0 Return to question 07 5 Complete this question by entering your answers in the tabs below. Rega Reg Rec 15 points Assuming that Hauswirth receives $35,000 in cash in year and a $75,500 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. Character $ 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 o $1231 gain recognized in year 1 $ $ 3 $ $ Amount 110.500 79,000 42,600 36,400 74,100 42,600 315003 28 51% 35,000 9,977 Ordinary Loss $ Section 1231 gain Section 1231 gain . $
