the only parts needed are a2., b2., c2., d2., e1., & e2. these are all part of one question and no other answer provided has given a clear and detailed answer on the effect of sale on tax liability for each please provide work and explanation and i appreciate all the help!
[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): Note: 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. Problem 11-45 Part-a (Static) Required: a1. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $450,006 a2. What effect does the sale have on Hart's tax liability for the year? Answer is complete but not entirely correct. 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? [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): Note: 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. Problem 11-45 Part-b (Static) Required: b1. What are the amount and character of Hart's recognized gain or loss if the asset is tangible personal property sold for $550.000 b2. What effect does the sale have on Hart's tax liability for the year? Answer is complete but not entirely correct. 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? [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) Note: 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. Problem 11-45 Part-c (Static) Required: 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? [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): Note: 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. Problem 11-45 Part-d (Static) Required: 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? [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 asse 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): Note: 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. Problem 11-45 Part-e (Static) Required: e1. Now assume that Hart is a C corporation. What are the amount and character of its recognized gain or loss if the asset is a nonresidential buliding sold for $450,000 ? e2. What effect does the sale have on Hart's tax liability for the year (assume a 21 percent tax rate)
