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Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $5,000 on January 15, 2018. On December 31, 2020, she sold all 1,000 shares of her Ibis stock for $4,500. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2021, for $3,000. What is Ms. Fresh's recognized loss on her 2020 sale, and what is her basis in her 1.000 shares purchased in 2021? Multiple Choice $0 LTCL and $3,500 basis $200 LTCL and $3,300 basis. $300 LTCL, and $3,200 basis. $400 LTCL and $3,100 basis Alain Mire files a single tax return and has adjusted gross income of $304,000. His net investment income is $53,000. What is the additional tax that Alain will pay on his net investment income for the year? Multiple Choice $0. $2,014 $3,952 $1,938 Sue invested $9,500 in the ABC Limited Partnership and received a 10 percent interest in the partnership. The partnership had $29,000 of qualified nonrecourse debt and $29,000 of debt Sue is not responsible to repay because she is a limited partner. Sue is allocated a 10 percent share of both types of debt, resulting in a tax basis of $15,300 and an at-risk amount of $12,400. During the year, ABC LP generated a ($153,000) loss. How much of Sue's loss is disallowed due to her tax basis or at-risk amount? Multiple Choice O $0; all of her loss is allowed to be deducted, $2,900 disallowed because of her at risk amount. $2,900 disallowed because of her tax basis. $5,800 disallowed because of her tax basis The netting process for capital gains (losses) with 0/15/20 percent, 25 percent, and 28 percent capital assets helps maximize the tax benefit of Multiple Choice current-year net loss in the 25-percent rate group net short-term capital losses long-term capital loss carryovers. current-year net loss in the 25-percent rate group and long-term capital loss carryovers