** no explanation just amswers

Review the following scenario. Then, choose the response that correctly completes the last sentence describing how revenue from the sale of stock affects the taxpayer's taxable income, and how the revenue is taxed.

Nadine bought 100 shares of OAK stock for $30 a share on April 30, 2019. On July 1, 2020, she noticed that the stock had increased in value to $35 a share. She decided to sell her shares. Nadine's only other income for the year consisted of $65,000 in wages. She will claim the standard deduction when she files her return.

Nadine's revenue from the sale of stock will increase her taxable income by:

$500, and this $500 will be taxed at a capital gain rate of 15%.

$500, and this $500 will be taxed at her regular marginal tax rate of 22%.

$3,500, and this $3,500 will be taxed at a capital gain rate of 20%.

$3,500, and this $3,500 will be taxed at her regular marginal rate of 22%.

Mark for follow up

Question 42 of 50.

Which of the following is classified as depreciable, listed property?

Equipment placed in service and disposed of in the same year.

Inventory consisting of finished goods available for sale in a taxpayer's business.

A small pickup truck used by the taxpayer predominantly for business purposes, but also used occasionally for personal purposes.

A vacant piece of land held for investment.

Question 43 of 50.

During the year, Ava purchased a building for her business, Ava's Dress Shop. The cost of the building, not including the land value, will be deducted:

The year it is acquired.

The year after it is acquired.

Over a period of years, rather than all at once.

When it is no longer used in business.

Question 44 of 50.

While preparing a 2020 return for a taxpayer, Tyreek, a paid preparer, determined that the taxpayer had omitted certain items of income when they filed their prior-year return. Choose the response that correctly completes the next sentence describing how Tyreek should handle this situation. He should advise the taxpayer promptly of the fact of such omission and:

Advise them of the consequences of not amending the previous year's return.

Make an adjustment for the previous year's omission on the current-year return.

Refer the taxpayer to his supervisor.

Refuse to prepare the current-year return until the prior-year return is amended.

Question 45 of 50.

Sheena owns two rental houses. During the year, she was actively involved in managing the properties. The only services she provides are minor repairs and basic maintenance of the heating, cooling, electrical, and plumbing systems. She is not a real estate professional.

How should Sheena report the rent she received as payment for use of these properties?

Business income, reported on Schedule C.

Investment income, reported on Schedule D.

Passive income, reported on Schedule E.

Other income, reported on Schedule 1.