8. Susan purchased 20 shares of X stock in 2010 for $20 per share. Susan purchased an additional 20 shares of X stock in 2015 for $40 per share. Susan purchased an additional 20 shares of X stock in 2019 for $35 per share. Susan does not keep the shares in separate accounts and cannot determine which share was purchased at any given time. In 2022 Susan sold 30 shares of X stock for $50 per share ($1,500). What is Susan's gain recognized on the sale in 2020? a. $1,500 b. $700 c. $350 d. $0 e. None of a - d is correct Objective Short Answer 9. Taxpayer ("T") owned a company ("C") which developed software. T owned all 1,000 shares of C stock. T's compensation for working at C included the following: T received a payment of $75,000 cash from C on December 31 of each year. C put aside $25,000 per year, for T's retirement, into an account which would begin to pay T (or T's family if T were dead) 10% of the account value when T reached the age of 65 (T is currently 50). In addition, on MARCH 1 AND OCTOBER 1 of each year, each share of C stock pays a dividend of $10 per share in cash and entitled each shareholder to .01 additional C shares (meaning these payments were made in both March and October). During the current year: (i) On July 1, T assigned/gifted the $75,000 cash payment to T's son S, and (ii) on July 1, T gifted 15% ownership in the C Corporation (150 shares) to T's daughter D, when the gifted shares had a fair market value of $1,500,000 and an adjusted basis of $60,000 to T What income, if any, will T recognize in the current year?