Income Assignment , Your Uncle Max Moneybags gave you a gift of Google stock wor gave you a gift of Google stock worth $25,000 on December 15, 2019. He bought on November 20 2019 for $10.000. You can Uncle Max and held on to the stock. As a result of receiving the g you must report the following amount of income on your Form 1040
38. Instead of holding the stock in the above question, you sold the stock on December 31, 2019 for $30,000. As a result of the sale you must report the following amount of income on your Form 1040
A Zero B. $5,000 C. $20,000 D. $10,000 E. $25,000
39. You will treat the transaction on the previous question your personal Form 1040 as.
A. Non-taxable B. Long Term Capital Gain C. Short Term Capital gain D. Return of Capital E. Dividend income. Get Finance homework help today