Six years ago, HOPCO granted Tina a nonqualified option to purchase 1,000 shares of HOPCO stock at $12 per share. On date of grant, the market price was $10 per share. This year, Tina exercised the option when the market price was $33 per share. Compute HOPCO's deduction resulting from the exercise.

2. Linda is an unmarried individual. She has $219,344 taxable income in 2020. Compute Linda's regular tax liability if she files as a single taxpayer and if she files as a surviving spouse.

Answer rating: 100% (QA)

Solution 1HOPOCOs de... View the full answer