$477,275 c. $347,725 d. $175,000 e. None of the above 23. On November 03, 2016, Tim sold 1,000 shares of Citigroup stock (adjusted basis $45,000) for $28,000. On December 01, 2016, Tim purchased 1,200 share of Citigroup stock for S $27,500. What is Tim's recognized loss for 2016So a. $3,000 b. $17,000 d. $500 None of the above e. 24. Nancy, a single taxpayer paid $18,000 in medical expenses in 2015. Her AGI in 2015 was $100,000. Nancy filed a claim for reimbursement of medical expenses with her nsurance company in 2015 but did not receive reimbursement until May 15, 2016. Nancy paid no other expenses in 2015 . Assuming medical expenses have a 10% floor and the standard deduction in 2015is $6,300, how much of the medical expense reimbursement must Nancy include in gross in 2016 if she receives a reimbursement of $18,000? a. $6,300 b. $18,000 c. $1,700 d. $8,000 e. None of the above 4, 300 Question 25 through 29 Robert and Frank entered into an agreement where Robert exchanges his office building for Frank's farmhouse. The office building has a FMV of $480,000. Robert purchased the building in 2004 for $275,000 and has taken $65,000 of depreciation. Also, Robert has a mortgage on the building of $80,000, which Frank has agreed to assume. In exchange for the Robert's building Frank will transfer his farmhouse (FMV $350,000/ adjusted basis $225,000) plus equipment with a FMV of $50,000 and an A/B of $85,000. What is the amount realized by Robert on the exchange of his build 25. a. $480,000 Rober b $430,000 c. $400,000 d. $350,000 eid 16 e. None of the above 26. What is Robert's realized gain? 1000D eroe 8o 000 t gaooo u 80 000