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Check my work 6 On September 30, 2014, Stalling Inc. issued 2,000 shares of its publicly traded stock as compensation to its employee, Mr. Harry.
Check my work 6 On September 30, 2014, Stalling Inc. issued 2,000 shares of its publicly traded stock as compensation to its employee, Mr. Harry. On the date of issuance, the stock's fair market value was $41,000. Under the terms of his 2014 compensation contract, Mr. Harry couldn't dispose of the stock before October 1, 2019, and if he terminated his employment with Stalling before that date, he had to return the stock to the corporation. On October 1, 2019, Mr. Harry, who still worked for Stalling, sold all 2,000 shares for $59,500. 1.25 points Stalling Inc. uses a fiscal year ending August 31 for tax purposes. Determine the amount of Stalling's deduction and the taxable year in which Stalling is allowed the deduction with respect to the 2,000 shares issued to Mr. Harry if: eBook References a. Mr. Harry made no election with respect to the restricted stock in 2014. b. Mr. Harry filed a timely election in 2014 to accelerate income recognition with respect to the 2,000 shares of restricted stock. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of Stalling's deduction and the taxable year in which stalling is allowed the deduction with respect to the 2,000 shares issued to Mr. Harry if Mr. Harry made no election with respect to the restricted stock in 2014. Amount Taxable year Stalling's allowable deduction
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