Tally inherited a bond mutual fund from her Uncle Jason, who died December 10, 2019, at which time the bond mutual fund was valued at $296,000. Uncle Jason had just bought the bond mutual fund on November 1, 2019, and paid $290,000 for it. Tally is considering liquidating the bond mutual fund and expects to receive net proceeds of $272,000 from the sale. What are the tax consequences of such a sale assuming that it was to take place on April 15, 2020?

On November 15^th, 2017, Tally purchased a high-tech stock with a FMV of $52,000. On December 20^th, 2019, she gifted the stock to her niece Kate. On that date, the stocks value was $42,000. What would Kates basis, holding period, and gain/loss be if she sold the stocks one month later for :

a) $38,000

b) 55,000

c) 46,000

Help the Alexanders determine whether Grayson should receive the lump-sum payment from his pension plan this year, or a Single Life Annuity of $10,000 per month, or a Joint and 100% Survivor Annuity of $7,877 per month. Assume they both expect to live to age 95 and they can receive 8.5% per year from investment.