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Mark and Mary have been married for 12 years and have no children. They are divorcing on January 1,2021. Mark comes to you for tax

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Mark and Mary have been married for 12 years and have no children. They are divorcing on January 1,2021. Mark comes to you for tax planning advice. Mary has offered Mark the choice of one of the following alternatives as part of the divorce settlement: Option 1: Mary will give Mark stock (FMV = $50,000, AB = $15,000); or Option 2. Mary will pay Mark $2,000/month alimony until Mark finishes graduate school and can secure full-time employment (approx. 25 months). If Mark elects the stock, what is Mark's gross income from receipt of the stock in 2021? Same facts as previous question. If Mark elects the stock and years later sells the stock for $50,000, in the year that Mark sells the stock, what is Mark's gross income (recognized gain) from the sale of the stock? 35.000 Same facts as previous two questions. If Mark elects the $2,000/month payments instead of the stock, what amount, if any, does Mark included in gross income? Assume the divorce agreement is finalized January 1, 2021, and Mark receives 12 payments ($24,000 total) in 2021. 1 Same facts as previous questions except the couple finalized the divorce agreement on January 1, 2018 If Mark elected the monthly payments, what amount, if any, of the $24,000 in total payments that Mary makes in 2021 ($2,000/month * 12 months) can Mary deduct on her 2021 federal income tax return? Enter your answer as a positive number

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