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ollegr [7]
3 years ago
9

Zack received a gift of stock from his uncle on June 20 of the current year. Zack's uncle had a basis in the stock of $4,000, bu

t the fair market value of the stock on June 20 was only $1,500. Zack held the stock for three months and then sold it for $1,200. What basis in the stock will Zack use to determine his gain or loss on the sale of the stock?
Business
2 answers:
DiKsa [7]3 years ago
7 0

Answer:

$4,000

Explanation:

pshichka [43]3 years ago
7 0

Answer:

The answer is $1500

Explanation:

Since the FMV is lower than the original cost of the gift the dual basis would take place.

You might be interested in
Private ownership differs from state ownership in that in private ownership _____.
MAVERICK [17]

Answer:

The correct answer is letter "A": maximizing profits is the primary objective of a firm.

Explanation:

Business private ownership mainly focuses on providing a good or service to a specific or diverse market with the ultimate goal of maximizing profits. Revenue is the reason why those companies exist. On the other hand, state property has the objective of protecting jobs and minimizing social issues.

5 0
3 years ago
What is the minimum value of the box-and-whisker plot?
natka813 [3]

Answer:

A;36

Explanation:

So lets recall the different parts of a box and whisker plot.

The dot at the very right end of it is the maximum, where the largest number is.

After that, the box to the right is the upper quartile.

On the left, the box on the left is the lower quartile.

In between the right and left of the box is the median, which seperates the upper quartile by the lower quartile.

Finally, we have the dot farthest to the left, which is the minimum.

So on our box and whisker chart, lets look at the dot farthest to our left, since thats the minimum.

<u>This should be 36.</u>

Hope this helps! ;)

8 0
2 years ago
If the supply curve and the demand curve for lettuce both shift to the left by an equal amount, what can we say about the result
Anna [14]

Answer:

d. The price will stay the same, but the quantity will increase.

Explanation:

When the demand and supply both fall, the equilibrium quantity will definately fall but the price will remain the same. The new supply adapts to the reduction of the demand.

6 0
3 years ago
I’ll give 20 points to the best answer !!!
elena-14-01-66 [18.8K]

Answer:

The answer is "Slide Master View"

Explanation:

Slide Master Look is indeed the name of this feature. This can help you keep track of all the presentations you've created and change those ones that require work or even more information. The additional feature is the ability to change the presentation's actual picture, as it may be extended to all slides. Slide master view also allows you to change the text format & placeholders.

7 0
3 years ago
Jon is a cash-basis taxpayer and has adjusted gross income of $40,000 in 2018. During the year he incurred and paid the followin
fiasKO [112]

Complete Question:

Jon is a cash-basis taxpayer and has adjusted gross income of $40,000 in 2018. During the year he incurred and paid the following medical expenses.

Drugs and medicines prescribed by doctors $300

Health insurance premiums $750

Doctors' fees $2,250

Eyeglasses $75

How much medical expense can he deduct as itemized deduction?

Answer:

Jon

Medical expense that Jon can deduct as itemized deduction:

= $375

Explanation:

a) Data and Calculations:

Adjusted gross income = $40,000

Incurred medical expenses:

Drugs and medicines prescribed by doctors $300

Health insurance premiums $750

Doctors' fees $2,250

Eyeglasses $75

Total  = $3,375

Under Tax Cuts and Jobs Act (TCJA), the medical expenses which can be deducted as an itemized deduction on the federal income tax return are only to the extent that they exceed 7.5% of adjusted gross income (AGI).

7.5% of $40,000 = $3,000

Therefore, Jon can itemize deduction of $375 in medical expense.

7 0
3 years ago
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