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Required: a. Assuming that Hauswirth receives $52,900 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the
Required: a. Assuming that Hauswirth receives $52,900 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 $52,900, 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 $25,500 in cash in year 0 and a $54,500 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 $52,900 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale. Required: a. Assuming that Hauswirth receives $52,900 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 $52,900, 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 $25,500 in cash in year 0 and a $54,500 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 $52,900 in cash for the warehouse, compute the amount and character of Hauswirth's recognized gain or loss on the sale
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