As Part of a Divorce Decree, Janet Must Give Her

question 36

Multiple Choice

As part of a divorce decree, Janet must give her ex-spouse Herman her half-interest in stock with a total value of $120,000 (total basis = $70,000) in exchange for his half-interest in their home with a total value of $150,000 and a basis of $130,000.What are Janet and Herman's realized and recognized gains or losses on this exchange? Janet: Realized Recognized Herman: Realized Recognized

• A)$30,000 $30,000 ($20,000) ($20,000)
• B)$30,000 0 $20,000 0
• C)$40,000 0 ($5,000) 0
• D)$40,000 $10,000 ($5,000) ($5,000)

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Definitions:

Midbrain

A central part of the brainstem involved in vision, hearing, motor control, sleep/wake, arousal, and temperature regulation.

Mesobrain

Another term for the midbrain, which is a portion of the brainstem involved in vision, hearing, motor control, sleep/wake, arousal, and temperature regulation.

Somatic Nervous System

Part of the peripheral nervous system that handles voluntary control of body movements through control of skeletal muscles.

Autonomic Nervous System

The part of the nervous system responsible for control of the bodily functions not consciously directed, such as breathing, the heartbeat, and digestive processes.