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Required information The following information applies to the questions displayed below. Hart, an individual, bought an asset for $ and has claimed $ of depreciation deductions against the asset Hart has a marginal tax rate of 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 answers blank. Enter zero if applicable. Required: e 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 building sold for $ e What effect does the sale have on Hart's tax liability for the year assume a percent tax rate Complete this question by entering your answers in the tabs below. Required e Required e What effect does the sale have on Hart's tax liability for the year assume a percent tax rate Tax liability $ 
Required information
The following information applies to the questions displayed below.
Hart, an individual, bought an asset for $ and has claimed $ of depreciation deductions against the asset Hart has a marginal tax rate of 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 answers blank. Enter zero if applicable.
Required:
e 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 building sold for $
e What effect does the sale have on Hart's tax liability for the year assume a percent tax rate
Complete this question by entering your answers in the tabs below.
Required e
Required e
What effect does the sale have on Hart's tax liability for the year assume a percent tax rate
Tax liability
$
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