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Q 75 the 5000 is wrong . i take thie exiam Question 72 of 75. Which of the following statements about basis is TRUE? O
Q 75 the 5000 is wrong . i take thie exiam
Question 72 of 75. Which of the following statements about basis is TRUE? O Bonus/special depreciation decreases basis. O Basis is not impacted by casualty losses. O Basis is not impacted by the Section 179 deduction. O Depreciation can decrease basis below zero. > Mark for follow up Mark for follow up Question 75 of 75. on January 21, 2019, Lincoln exercised an incentive stock option (ISO) granted to him by his employer. His option enabled him to purchase 1,000 shares of stock for $15 per share. When he exercised his option, the stock was trading at 520 per share. He sold the stock at a gain six months later, when the stock was trading at $27 per share. As a result of this transaction, how much does Lincoln report on his 2019 return as short-term capital gain income? $0 $5,000 $7,000 $12,000 Mark for follow up Question 73 of 75. Liam received a nonstatutory stock option from his employer on January 1, 2019. The option gives him the right to share. The option is not traded on an established market, and its value could not be readily determined when it was granted. Although Llam did not exercise his option during the tax youts the value of the stock increased after he received the option. On December 31, 2019, the stock was trading at $20 per share. How much compensation does Llam include in his 2019 Income as a result of being granted this option $0 $800 $1,200 $2,000 Step by Step Solution
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