REG 全真模擬試験 DEMO

問題3: 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. $5,000
D. $10,000
正解: A
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.