Question
On July 1, 2019, Stephanies grandmother gave her 2000 shares of Starbucks stock worth $60,000 as a graduation present. Starbucks declared a dividend of 15
On July 1, 2019, Stephanies grandmother gave her 2000 shares of Starbucks stock worth $60,000 as a graduation present. Starbucks declared a dividend of 15 cents per share on September 9, 2019, to be paid on November 27, 2019 to shareholders of record as of November 12, 2019. Stephanie still owned all of the stock on December 31, 2019. How much gross income does Stephanie have as a result of the gift and the dividend in 2019?
- $0
- $150
- $300
- $60,150
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Montgomery Auditing Continuing Professional Education
Authors: Patrick J. McDonnell, Barry N. Winograd, James S. Gerson, Henry R. Jaenicke, Vincent M. O'Reilly
12th Edition
0471346055, 978-0471346050
