44. Michelle purchased 2,000 shares of Stone Corporation for $13,200. This year, Stone declared a...
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44. Michelle purchased 2,000 shares of Stone Corporation for $13,200. This year, Stone declared a 10% nontaxable stock dividend, and Michelle received 200 shares. After the dividend Michelle's per share basis will be A) $6.00 B) $6.57. C) $6.60. D) $7.26. 38. Ozzie and Harriet, husband and wife, file separate returns. Ozzie and Harriet live in a community property state that considers separate property income to be separate. Ozzie's salary is $42,000 and Harriet's salary is $46,000. Harriet receives dividend income of $4,000 from stock inherited from her parents. Ozzie receives interest income of $1,000 from bonds purchased with his salary after marriage. Ozzie and Harriet receive $3,200 dividend income from stock they purchased jointly. Harriet's income would be A) $50,000 B) $50,100. C) $51,100. D) $51,600. 37. Assuming a calendar tax year and the conventional 15th of the month due date, all of the following business entities must file their 2021 tax returns by the March 15, 2022 except A) the C corporation. B) the S corporation. C) the partnership D) All of the above entities must file their 2021 tax returns by March 15, 2022
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