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Kim is an employee of Azure Corporation. In the current year, she receives a cash salary of $30,000 and also is given 10 shares of
Kim is an employee of Azure Corporation. In the current year, she receives a cash salary of $30,000 and also is given 10 shares of Azure stock for services she renders to the corporation. The shares in Azure Corporation are worth $1,000 each. a. How will the transfer of the 10 shares to Kim be handled for tax purposes? Kim reduces her compensation by the fair market value of the stock received. b. Kim's basis in the stock is s c. What is Azure Corporation's total compensation deduction for Kim's services? Kim is an employee of Azure Corporation. In the current year, she receives a cash salary of $30,000 and also is given 10 shares of Azure stock for services she renders to the corporation. The shares in Azure Corporation are worth $1,000 each. a. How will the transfer of the 10 shares to Kim be handled for tax purposes? Kim reduces her compensation by the fair market value of the stock received. b. Kim's basis in the stock is s c. What is Azure Corporation's total compensation deduction for Kim's services
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