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Emily bought 5 0 shares of stock in Year 1 for $ 5 0 0 . In Year 2 , she received a return of
Emily bought shares of stock in Year
for $ In Year she received a return of
capital of $ She received an additional
return of capital of $ in Year What must
Emily report as longterm capital gain on her
tax return for Year
A $
B $
C $
D $
Joan owned stock in W Corporation, which
has a dividend reinvestment plan. Joan decided
to participate in the plan, and during the current
year the corporation paid dividends. The plan
allowed Joan to use her $ dividend to buy
additional shares of stock at $ per share
when the fair market value of the stock was
$ per share. How much dividend income
must Joan report on her currentyear income
tax return?
A $
B $
C $
D $
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