Travis and Andrea Were Divorced

question 46

Multiple Choice

Travis and Andrea were divorced. Their only marital property consisted of a personal residence (fair market value of $400,000, cost of $200,000) , and publicly-traded stocks (fair market value of $800,000, cost basis of $500,000) . Under the terms of the divorce agreement, Andrea received the personal residence and Travis received the stocks. In addition, Andrea was to receive $50,000 for eight years. I.
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If the $50,000 annual payments are to be made to Andrea or her estate (if she dies before the end of the eight years) , the payments will qualify as alimony.
II)
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Andrea has a taxable gain from an exchange of her one-half interest in the stocks for Travis' one-half interest in the house and cash.
III)
If Travis sells the stocks for $900,000, he must recognize a $400,000 gain.

• A)Only III is true.
• B)Only I and III are true.
• C)Only I and II are true.
• D)I, II, and III are true.
• E)None of these are true.

Comprehend the role and effect of neurotransmitters in panic disorder.

Understand the associated phobias and how panic disorder influences daily life.

Grasp the effectiveness of drug vs. cognitive treatments for panic disorders.

Distinguish between the concepts of obsession and compulsion.

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Definitions:

Federal District Courts

The general trial courts of the United States federal court system where civil and criminal cases are filed and heard.

ADR

Alternative Dispute Resolution; methods for resolving disputes without litigation, such as arbitration or mediation.

Mediation

is a form of alternative dispute resolution where a neutral third party helps disputing parties to reach a mutually acceptable agreement.

Breach of Contract

A legal violation occurring when one or more parties fail to fulfill the obligations set forth in a contract.