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How much gain or loss does Casper recognize

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Reference no: EM132607328

Question - Casper and Cecile divorced in 2018. As part of the divorce settlement, Casper transferred stock to Cecile. Casper purchased the stock for $92,500, and it had a market value of $148,000 on the date of the transfer. Cecile sold the stock for $129,500 a month after receiving it. In addition Casper is required to pay Cecile $4,625 a month in alimony. He made five payments to her during the year.

What are the tax consequences for Casper and Cecile regarding these transactions?

If an amount is zero, enter "$0".

a. How much gain or loss does Casper recognize on the transfer of the stock?

c. How much income does Cecile have from the $23,125 alimony received?

When Cecile sells the stock, how much does she report?

Cecile will report a gain of how much?

Reference no: EM132607328

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