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NEW QUESTION: 1
Conner purchased 300 shares of Zinco stock for $30,000 in 1980. On May 23, 1994, Conner sold all the stock to his daughter Alice for $20,000, its then fair market value. Conner realized no other gain or loss during 1994. On July 26, 1994, Alice sold the 300 shares of Zinco for $25,000.
What amount of the loss from the sale of Zinco stock can Conner deduct in 1994?
A. $0
B. $3,000
C. $10,000
D. $5,000
Answer: A
Explanation:
Explanation
Choice "a" is correct. Even though Conner has a realized loss of $10,000 on this transaction he cannot deduct the loss since it was incurred in a transaction with his daughter, a related party.
Choice "b" is incorrect. $3,000 is the limit on deductible net capital losses. However, Conner cannot deduct this loss, since it was incurred in a transaction with his daughter, a related party.
Choice "c" is incorrect. Conner's realized loss on the sale is $10,000 ($20,000 proceeds less $30,000 basis). However, Conner cannot deduct this loss, since it was incurred in a transaction with his daughter, a related party.
Choice "d" is incorrect. $10,000 is Conner's realized loss on the sale. However, Conner cannot deduct this loss, since it was incurred in a transaction with his daughter, a related party.
NEW QUESTION: 2
You will be deploying a new vCloud vApp which needs storage with specific capabilities. In the past, this had been accomplished by manually assigning your datastores to a service level such as "Tier 1," "Tier 2," and so on. Your SAN infrastructure is large and complicated enough that you do not want to do this manually as it is tedious and error prone. What technology helps eliminate a lot of the manual work involved in defining tiered storage used in your cloud?
A. VASA
B. Resource Pools
C. Catalogs
D. Storage vMotion
Answer: A
NEW QUESTION: 3
Which of the following security technologies are used on a 5G network? -MC
A. Integrity protection on the user plane over the air interface.
B. End-to-end security protection between PLMNs .
C. Encrypted IMSI transmission.
D. 256-bit encryption algorithm.
Answer: A,B,C,D
NEW QUESTION: 4
An IS auditor previously worked in an organization s IT department and was involved with the design of the business continuity plan (BCP). The IS auditor has now been asked to review this same BCP. The auditor should FIRST.
A. decline the audit assignment.
B. document the conflict in the audit report.
C. communicate the conflict of interest to the audit manager prior to starting the assignment.
D. communicate the conflict ofinterest to the audit committee prior to starting the assignment
Answer: D