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On January 1, year 1, Dave received 1,500 shares of restricted stock from his employer, RRK Corporation. On that date, the stock price was $20 per share. On receiving the restricted stock, Dave made the 83(b) election. Dave's restricted shares will vest at the end of year 2. He intends to hold the shares until the end of year 4 when he intends to sell them to help fund the purchase of a new home. Dave predicts the share price of RRK will be $53 per share when his shares vest and will be $64 per share when he sells them.
Assume that Dave's price predictions are correct and answer the following questions: (Leave no answers blank. Enter zero if applicable. Round your final answer to the nearest whole dollar value. Enter all amounts as positive values.) Problem 1: If Dave's stock price predictions are correct, What are the tax consequences of these transactions to RRK?
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Three years ago, Adrian purchased 220 shares of stock in X Corp. for $29,480. On December 30 of year 4, Adrian sells the 220 shares for $22,000. Assuming Adrian has no other capital gains or losses, how much of the loss is Adrian able to deduct on he..
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