Smith, an individual calendar-year taxpayer, purchased 100 shares of Core Co. common stock for $15,000 on December 15, Year 1, and an additional 100 shares for $13,000 on December 30, Year 1. On January 3, Year 2, Smith sold the shares purchased on December 15, Year 1, for $13,000. What amount of loss from the sale of Core's stock is deductible on Smith's Year 1 and Year 2 income tax returns

Answers

Answer 1

Answer:

Year 1 = $0Year 2 = $0

Explanation:

Stock was sold in year 2 so there is no loss that would be deductible from Smith's Year 1 income tax returns.

In year 2, the stock was sold for $13,000 even though it was bought for $15,000. There is therefore a loss of $2,000.

This $2,000 results from a wash sale however so it will not be deductible.  A wash sale is used to describe a scenario where stock from one transaction is sold but was the investor buys that same stock in another transaction 30 days before or after they sold the former.

As Smith purchased another $13,000 worth of stock merely 16 days before he sold the first batch, this is a wash sale and its loss is not deductible.


Related Questions

A client has a third-degree burn on the leg. The wound is being treated by the open method. After about 4 days, a hard crust has formed around the leg and is impairing the circulation to the leg. What procedure would be done to relieve pressure on the affected area?
A. escharotomy
B. debridement
C. allograft
D. silvadene application

Answers

your answer is third hope it's helpful to you

Allograft procedure would be done to relieve pressure on the affected area.

What is Allograft?

Allograft refers to the transplant of an organ or tissue from one person of the same species to another with a different genotype. For instance, an allograft is a transplant from one individual to another who is not an identical twin. Many human transplants, including those involving cadaveric, live related, and living unrelated donors, use allografts. also referred to as a homograft or an allogeneic graft.

Allografts can be used in a variety of conditions with varied degrees of severity. For instance, bone allograft transplants can be utilized for more cosmetic purposes in dentistry or plastic surgery, as well as to repair limbs in orthopedics.

Allograft transplants can be employed both during the operation and directly for the treatment of patients. A type of bone putty created from donated bone or tissue material is called a demineralized bone matrix. Musculoskeletal allograft transplants are the most popular kind of allograft transplants.

This relates to one of the primary justifications for the use of allograft transplants: synthetic materials can have characteristics that differ from those of biologically human tissue and may not be appropriate for the intended application. In addition, tissue from an allograft transplant usually fuses with the recipient's own tissue over time, becoming an indistinguishable component of the recipient's body. If one's own tissue cannot be used in sufficient quantities, allograft transplants may be employed.

Tissues can be prepared for allograft transplantation using a variety of techniques. To get rid of as many cellular components as feasible, the tissue is treated with antibiotics, and detergents during aseptic processing.

It is also possible to chemically sterilize allograft tissue using the sterilization process. Gamma irradiation, a type of electromagnetic radiation that purges the tissue of microorganisms, is frequently combined with this. However, viruses might not be eliminated by gamma radiation.

Hence, correct option is C.

To learn more about allograft, click here
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account question ❓❓❓​

Answers

Answer:

1000

Explanation:

100×100+0-9000

61037t7563

Answer: 90011
17 b+c -=
92

The Rybczynski theorem asserts that in a two-good world, and assuming that product prices stay constant, growth in the endowment of one factor of production, with the other factor unchanged, will lead to:
A. An equal percentage increase in the output of both goods.
B. An increase in the output of the good that uses the growing factor intensively and a decrease in the output of the other good.
C. An increase in the output of both goods but a greater percentage increase in the output of the good that uses the growing factor intensively.
D. An increase in the output of the good that uses the growing factor intensively and no change in the output of the other good.

Answers

Answer:

The answer is "Option b".

Explanation:

The theorem of Rybczynski affirms that certain expansion in the endowments of one factor of manufacturing throughout the two-good economy, with other unchanged factors, which would be the result in increased output for the product that employs the increasing factor as well as a drop throughout the output of the other good.

A good manager: A. gives advice freely and frequently. B. is more result-oriented than relationship-oriented. C. has a judger mind-set and low self-awareness. D. schedules time for listening to employees each day. E. believes that listening too much is a sign of indecisiveness.

Answers

Answer:

B.

Explanation:

If you're asking a good manager that keeps the busniess running the answer is B because he would get the best money results.

If you mean the best manager because CO-workers like him the answer is A, but I don't think that's what you're asking so the answer is most likely B.

IF THE ANSWER IS SELECT ALL THAT APPLY,

-A

-B

-D

What is the basis of the law of demand?
Group of answer choices

Self-interested behavior

Marginal utility

Utility curves

Market timing

Answers

market timing

Explanation:

because that way u wont miss customers

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