7

docx

School

CUNY Borough of Manhattan Community College *

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Course

330

Subject

Finance

Date

Jan 9, 2024

Type

docx

Pages

1

Uploaded by fifoeliverta

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Question 7 1 out of 1 points Mario, age 61, is a participant in a stock bonus plan. The value of the employer stock contributions to the plan over the course of his participation totaled $165,000. On December 1st of last year, Mario takes a full distribution of the employer stock from the plan at a value of $550,000. Fourteen months later, Mario sells all the stock for $400,000. Which of the following statements is true? Selected (@ 2. Mario has ordinary income of $165,000 for last year. Answer: Answers: 1. More information is needed. @ 2. Mario has ordinary income of $165,000 for last year. 3. Meario has a long-term capital gain of $385,000 for last year. 4. Mario has a long-term capital loss of $150,000 i year. 5, Mario has ordinary income of $165,000 and long-term capital gain of $385,000 for last year. the current
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