Brent received 1,000 shares of Alabama Corporation stock fromhis uncle as a gift on July? 20, 2017?, when the stock had a$275,000 FMV. His uncle paid $ 100,000 for the stock on April? 12,2002. The taxable gift was $ 275,000?, because his uncle madeanother gift to Brent for $25,000 in January and used the annualexclusion. The uncle paid a gift tax of $13,750. Withoutconsidering the transactions? below, Brent's AGI is $75,000 in2018. No other transactions involving capital assets occur duringthe year.
Analyze each transaction? below, independent of the? others, anddetermine Brent's AGI in each case. ?(Do not round intermediarycalculations. Only round the amounts you input in the cells to thenearest dollar. Use a minus sign or parentheses to enter a?loss.)
a. He sells the stock on October? 12, 2018?, for $281,000.
b. He sells the stock on October? 12, 2018?, for $106,750.
c. He sells the stock on December? 16, 2018?, for $269,000.
