6. Assume the same facts in question 5, above, and that Jon also transfers stock agreement. The stock was acquired by Jon in June 2018 at a cost of $15,000 and had a FMV on the transfer date (i.e., December 2018) of $25,000. After her divorce, Melissa decided to sell the stock in August 2019 for $23,000. Melissa's marginal tax rate in 2019 was 32%. What was the 2019 income taxation to Melissa of the stock sale? a. $2,000 short-term capital loss b. $2,000 long-term capital loss $7,000 long-term capital loss d. $8,000 short-term capital gain $8.000 long-term capital gain C.
6. Assume the same facts in question 5, above, and that Jon also transfers stock agreement. The stock was acquired by Jon in June 2018 at a cost of $15,000 and had a FMV on the transfer date (i.e., December 2018) of $25,000. After her divorce, Melissa decided to sell the stock in August 2019 for $23,000. Melissa's marginal tax rate in 2019 was 32%. What was the 2019 income taxation to Melissa of the stock sale? a. $2,000 short-term capital loss b. $2,000 long-term capital loss $7,000 long-term capital loss d. $8,000 short-term capital gain $8.000 long-term capital gain C.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:6. Assume the same facts in question 5, above, and that Jon also transfers stock to Melissa under the divorce
agreement. The stock was acquired by Jon in June 2018 at a cost of $15,000 and had a FMV on the
transfer date (i.e., December 2018) of $25,000. After her divorce, Melissa decided to sell the stock in
August 2019 for $23,000. Melissa's marginal tax rate in 2019 was 32%. What was the 2019 income
taxation to Melissa of the stock sale?
a. $2,000 short-term capital loss
b. $2,000 long-term capital loss
$7,000 long-term capital loss
d. $8,000 short-term capital gain
$8,000 long-term capital gain
C.
e.
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