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Answer:
A. $30,000
Explanation:
Jack realises gain of ( 100000 FMV of stock + 30000 FMV of car - 75000 Adjusted basis )
$ 55000
Jack recognises gain of $ 30000 i.e the FMV of the property ( car ) other than the stock received.
Therefore, The amount of gain that R must recognize on the exchange is $30,000.
Explanation:
I dont know sorry have a good day
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Answer:
$36,000
Explanation:
The computation of the adjusted gross income for the present year is as follows:
= Ordinary income + short term capital gain - short term capital loss + long term capital gain
= $35,000 + $3,000 - $6,000 + $4,000
= $36,000
Hence, the adjusted gross income for the present year is $36,000
The same is relevant
