I am moving my computer upstairs and putting a basic computer in its place. The cable will be extended upstairs while the other computer will be wireless. There are 2 laptops in the house so apparantly I need to keep the printer downstairs.
 
I was just wondering if I will be able to leave my computer as the gateway while having the printer on the wireless computer. Will the laptops be able to print through the wireless computer and will be computer still be able to print if I set up a wireless printing network from the wireless computer?
 
sorry if this is confusing.. not sure how to word it  

If you use an HP printer, chances are it can print from a router on a network. Google your printer model # & go to HP site for wireless printer adapter. It's about $50-100.
 
A better way is to get a wireless router with print server. It's about $50-100 more than regular routers. This is best cuz it works with almost all printers. You can also get a used enterprise wireless router with usb print server such as Watchguard Safe@Office 5xx. Used = cheap. About $100-200. Though they're usually wireless B/G. You could attach an N router to it.

I recently picked up an Iomega print server and it's worth the money.  Attaches directly to the router and works much better than when I was sharing a printer attached directly to a computer.