What was the gift tax in 2020? In 2019, Joshua gave $15,000 worth of Microsoft stock to
Question:
What was the gift tax in 2020?
In 2019, Joshua gave $15,000 worth of Microsoft stock to his son. In 2020, the Microsoft shares were worth $23,000.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (8 reviews)
Since the gift was mad...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Focus On Personal Finance
ISBN: 9781265521974
7th Edition
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Melissa Hart
Question Posted:
Students also viewed these Business questions
-
What was the gift tax in 2013?
-
What was the gift tax in 2016?
-
What was the gift tax in 2014? In 2014, Joshua gave $14,000 worth of Microsoft stock to his son. In 2015, the Microsoft shares are worth $23,000.
-
Help on this. thanks 2022SP CS234 Computer Science II 1. (Based on P6.11) A supermarket wants to reward its best customer of each day, showing the customer's name on a screen in the supermarket. For...
-
3 (2x 5) 2 (7x + 9) = 49
-
Which of the following is not a common explanation for a dominant disorder? a. Haploinsufficiency b. A change in chromosome number c. A gain-of-function mutation d. A dominant-negative mutation
-
What is the minimum horsepower for trending to extend the life of the machine if its noncritical?
-
At December 31, 2017, the following information was available for E. Hetzel Company: ending inventory $40,000, beginning inventory $56,000, cost of goods sold $270,000 and sales revenue $380,000....
-
1. What is the purpose of the Statement of Cash Flows? 2. What are the three major classifications of cash flows in the Statement of Cash Flows? If you could pick, which one would you prefer your...
-
In 2011 there were 232.2 million cell phone subscribers in the United States. By 2017 the number of subscribers increased to 265.9 million. What is the geometric mean annual percent increase for the...
-
Assume you own a corporate bond that has a face value of $1,000 and pays 4.60 percent. What is the current yield if the bond is currently selling for $1,080?
-
What was the total amount removed from Joshuas estate in 2020? In 2019, Joshua gave $15,000 worth of Microsoft stock to his son. In 2020, the Microsoft shares were worth $23,000.
-
Credit contracts often include the acceleration clause, the deficiency payments clause, and the recourse clause to give the lender options for collecting the debt. Explain each clause. What is the...
-
JRN Enterprises just announced that it plans to cut its next-year dividend, D1, from $2.50 to $1.40 per share and use the extra funds to expand its operations. Prior to this announcement, JRN's...
-
Base on what do ABC Analysis and dividing the inventory items into classes, how you may deal with items in C?
-
What measures do you feel your current or past employers used to motivate their employee? Where they effective?
-
What innovative approaches do companies adopt to integrate employee wellness programs seamlessly into their overall engagement strategies, aiming for holistic employee satisfaction and productivity?
-
On December 31 of last year, Wolfson Corporation had in inventory 540 units of its product, which cost $21 per unit to produce. During January, the company produced 940 units at a cost of $24 per...
-
If V is an inner product space, prove that the distance function of Definition 5, 3 satisfies the following properties for all vectors u, v, and w in V: (a) d(u. v) 0 (b) d(u, v) = 0 if and only if...
-
At 31 December 20X9, the end of the annual reporting period, the accounts of Huron Company showed the following: a. Sales revenue for 20X9, $ 2,950,000, of which one- quarter was on credit. b....
-
Calculate the unit price of each of the following items: a. Motor oil2.5 quarts for $1.95 (cents/quart) b. Cereal15 ounces for $2.17 (cents/ounce) c. Canned fruit13 ounces for 89 cents (cents/ounce)...
-
Match the following descriptions with the warranties listed here. Write your answer in the space provided. (a) Express warranty (b) Service contact (c) Limited warranty (d) Implied warranty (e) Full...
-
What is a certified preowned vehicle? What are the benefits and drawbacks of this type of purchase?
-
How does the implementation of a centralized database system impact the efficiency and data accuracy in a large retail organization?
-
Identify some processes related to a workplace, assess the benefits and concerns that may arise as a result of the relative sizes of P-time with respect to D-time. In a table include the benefits and...
-
industry competitors and customers analysis & develop a communications pla. Choose any company and analyze its industry, competitors and customers. Then either present theirs communications plan or...
Study smarter with the SolutionInn App