Complete this question by entering your answers in the tabs below.

Required a

Assuming that Hauswirth receives $$71,100$ in cash for the warehouse, compute the amount and character of Hauswirth's

recognized gain or loss on the sale.

Note: 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. Return

Required a

Required b

Required c

Assuming that Hauswirth receives $$29,500$ in cash in year $0$ and a $$85,500$ 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 $1.$

Note: 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.

Show less $L$

$\backslash$table$[[$Description$,$Amount,,Character$],[$Sales price,$$,115,000$vv$,],[$Original Basis,$$,90,000,,],[$Accumulated Depreciation,$$,(35,200),,],[$Adjusted Basis,$$,54,800,,],[$Gain $($Loss$)$ Realized,$$,60,200,,],[$Depreciation Recapture,,,,Ordinary Income$],[$Gain Eligible for Installment Reporting$],[$Gross Profit Percentage,,,$\%,],[1231$ gain recognized in year $0,,,,$Section $1231$ gain$],[1231$ gain recognized in year $1,,,,$Section $1231$ gain$]]$Comprehensive Problem $11-69($LO $11-1,$ LO $11-2,$ LO $11-3,$ LO $11-4,$ LO $11-5,$ LO $11-6)($Algo$)$

Hauswirth Corporation sold $($or exchanged$)$ a warehouse in year $0.$ Hauswirth bought the warehouse several years ago for $$90,000,$

and it has claimed $$35,200$ of depreciation expense against the building.

Required:

a$.$ Assuming that Hauswirth receives $$71,100$ 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 $$71,100,$

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 $$29,500$ in cash in year $0$ and a $$85,500$ 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.

Required a

Required $b$

Assuming that Hauswirth receives $$71,100$ in cash for the warehouse, compute the amount and character of Hauswirth's

recognized gain or loss on the sale.

Note: 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. Please help solve the rest, thank you!

Show all imagesShow all images