Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. shana has a stock portfolio with a fair market val

Shana has a stock portfolio with a fair market value(FMV)of$35,000 which she has decided to...

90.2K

Verified Solution

Question

Accounting

Shana has a stock portfolio with a fair market value(FMV)of$35,000 which she has decided to sell to her mother for $15,000, the same amount as Shana's ACB for the portfolio. What is Shana's capital gain on this sale? $0 $10,000 $20,000 $35,000 $0

$10,000

$20,000

$35,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1.687 g of N-2-acetamido-2-aminoethane-sulfonic acid potassium salt (ACES–K , MW = 220.29 g/mol) is dissolved in...

Chemistry
Q

A client's culture, not his/her individuality, is the most important factor to consider when communicating...

Biology
Q

A uniform solid sphere of mass m and radius r rolls without slipping down a...

Physics
Q

Let f x 5x 7 For any 0 find the largest value of 8 such...

Algebra
Q

Calculate and Document Federal and State Income Tax WithholdingCalculate federal and state income...

Accounting
Q

Ruiz Company provides the following budgeted sales for the next four months. The company wants...

Accounting
Q

9. The primary objective of a manufacturing organizations production process is to: a) Maintain inventories...

Accounting
Q

32. The following are trial courts from which a taxpayer may choose in initiating his...

Accounting
Q

In the current year, Tanager Corporation (a C corporation) had operating income of $480,000 and...

Accounting
Q

Materiality Methodology: Planning materiality (PM) is determined as follows: (1) For public clients,...

Accounting
Q

Blissful Mining Ltd announced will be undertaking a rights issue to fund a $82M project....

Finance
Q

5. What are the implications of globalization for the hiring and promotion strategy of a...

Finance