Bud received shares of Georgia Corporation stock from his uncle as a gift on July when the stock had a $ fair market value FMV His uncle paid $ for the stock on April The taxable gift was
$ because his uncle made another gift to Bud for $ in January and used the annual exclusion. The uncle paid a giff tax of $ Without considering the transactions below, Bud's AGI is $ in No other
transactions involving capital assets occur during the year.
Read the requirement.
a He sells the stock on October for $
b He sells the stock on October for $
c He sells the stock on December for $
Consider the four independent situations below for an unmarried individual, and analyze the effects of the capital gains and losses on the individual's AGI.
View the four independent cases.
Requirement
For each case, determine AGI after considering the capital gains and losses.
capital gains and losses. Use a minus sign or parentheses to enter a loss.
NSTCG NSTCL
NLTCG NLTCL
AGI after considering
capital gains and losses
Situation
Situation
Situation
Situation
$ $ $
Four Independent Cases
