Boris, a Single Individual, Has Two Sales of Stock During

question 87

Multiple Choice

Boris, a single individual, has two sales of stock during the current year. The first sale produces a short-term loss of $27,000 and the second sale results in a long-term gain of $57,000. Boris's taxable income without considering the gain is $125,000. Boris's stock transactions will increase his taxable income by:

• A)$-0-
• B)$30,000
• C)$34,000
• D)$54,000

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Definitions:

Indirect

A manner of communication in which messages are not expressed plainly or directly, requiring interpretation of context or underlying meaning.

Direct

A straightforward and honest way of communicating that conveys messages clearly and without ambiguity.

Subjective

Based on or influenced by personal feelings, tastes, or opinions, rather than external facts.

Social Institutions

Established sets of norms and structures that guide the behavior of individuals within a society, such as family, education, religion, and government.