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Braeden received 100 shares of Florida Corporation stock from his uncle as a gift on July 20, 2018, when the stock had a $27,500 FMV.

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Braeden received 100 shares of Florida Corporation stock from his uncle as a gift on July 20, 2018, when the stock had a $27,500 FMV. His uncle paid $18,000 for the stock on April 12, 2002. The taxable gift was $27,500, because his uncle made another gift to Braeden for $34,000 in January and used the annual exclusion. The uncle paid a gift tax of $5,500. Without considering the transactions below, Braeden's AGI is $35,000 in 2019. No other transactions involving capital assets occur during the year. Read the requirement. AGI prior to sale of stock + Gain (loss) on sale of stock = A Requirement Analyze each transaction below, independent of the others, and determine Braeden's AGI in each case. (Do not round intermediary calculations. Only round the amounts you input in the cells to the nearest dollar. Use a minus sign or parentheses to enter a loss.) a. He sells the stock on October 12, 2019, for $30,000. b. He sells the stock on October 12, 2019, for $18,600. c. He sells the stock on December 16, 2019, for $21,500. Print Done

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