Alex purchased 200 shares of ABC stock on June 2, 2016, for 1200. In November 2017. ABC issued a 10% stock dividend. How many shares does Alex own now and what is his basis?
Solution:
Alex has now 220 shares (= 200+10%*200). The new cost per share will 1200/220 = $5.45 but the cost basis remains the same i.e. $1,200
Alex purchased 200 shares of ABC stock on June 2, 2016, for 1200. In November 2017....
Alex purchased 200 shares of ABC stock on June 2nd
2017, for $1,200. And November 2018, ABC issued a 10% stock
dividend. Alex now owns 220 shares and his bases is
EXCEPT Royalty inoome Taseemp inome Original sse discnunt Ordinary dhvidend inonme Mark for oow Queetion 27 of 76 Alex purchased 200 shares of ABC atock on June 2, 2017, for $1,200. In November 2018, ABC issued a 10% stock dividend. Alex now owns 220 shares and his basis is...
Jax purchased 200 shares of ABC stock on June 2, 2018, for $1,200. In November 2019, ABC issued a 10% stock dividend. Jax now owns 220 shares and his basis is __________. $1,080 $1,200 $1,320 $1,452
Test - Senior Tax Specialist Certification Test (2019) Investment Income Question 25 of 75. Alex purchased 200 shares of ABC stock on June 2, 2017, for $1,200. In November 2018. ABC issued a 10 dividend. Alex now owns 220 shares and his basis is O O O $1,080 basis. $1,200 basis. $1,320 basis. $1,452 basis. Mark for follow up Question 26 of 75. when a taxpayer fails to meet the holding requiremer The sale of stock is considered a(n). options....
Test - Senior Tax Specialist Certification Test (2019) Investment Income Question 25 of 75. Alex purchased 200 shares of ABC stock on June 2, 2017, for $1,200. In November 2018. ABC issued a 10% stock dividend. Alex now owns 220 shares and his basis is _ O $1,080 basis. O $1,200 basis. O $1,320 basis. $1,452 basis. Mark for follow up when a taxpayer fails to meet the holding requirement for statutor Question 26 of 75. The sale of stock...
alex purchased 200 shares of abc stock on june 2
dividend. AUX TUW O $1,080 basis. $1,200 basis. O $1,320 basis. O $1,452 basis. Mark for follow up _when a taxpayer fails to meet the holding requirement fo Question 26 of 75. The sale of stock is considered a(n)__ options. O Qualified sale O Ordinary disposition Nonqualified sale O Disqualifying disposition Mark for follow up Question 27 of 75. A taxpayer brings in a Form 1099-B showing $7,521 in net...
43. To be considered a trader in securities for tax purposes, the trading activity must meet three general requirements f the following is not one of the three general requirements? Activity must be substantial. Transactions must be for a large amount. Transactions must be regular and continuous. Transactions must be intended for short-term swings 44. Alex purchased 200 shares of ABC stock on June 2, 2016, for $1,200. In November 2017, ABC issued a 10% stock dividend. How many shares does Alex own now, and...
You purchased 200 shares of ABC stock on July 15th. On July 20th, you sold 100 shares and then on July 22nd you purchased your final 200 shares of ABC stock. The company declared a dividend of $1.10 a share on July 5th to holders of record on Thursday, July 22nd. The dividend is payable on July 31st How many shares of dividends will you receive for the 200 shares that purchased on July 15th? 200 OO Question 16 7.7...
6. You purchased 500 shares of ABC stock on May 8. On May 16, you purchased another 200 shares and then on May 20 you purchased a final 100 shares of ABC stock. The company declared a dividend of $.94 a share on May 6 to holders of record on Friday, May 22. The dividend is payable on June 12. Assume it takes 2 business days to clear the transactions of ABC stock (i.e. T+2), how much dividend income will...
Crosby purchased 200 shares of Nash, Inc. Common stock on November 13, 2008, for $3,400 and paid a $200 commission. On December 28, 2008, Crosby received a $2 per share cash dividend from Nash. On June 17, 2009, Nash declares and distributes a 2 for 1 stock split. On August 4, 2009, Crosby purchased an additional 300 shares of Nash, Inc. Common stock for $4,200 plus a $300 commission. On November 22, 2009, Crosby sells 500 shares of Nash, Inc....
Please help with 2 and 3. Thank you!
2. ABC, Inc. has 4,000 shares of 6%, $50 par value cumulative preferred stock issued at the beginning of 2016 and 200 shares of cumulative preferred Treasury Stock. All remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2016. The company plans to pay total dividends of $20,000 in 2017. How much of the $20,000 dividend will be paid to preferred stockholders...