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Stevie recently received 1,010 shares of restricted stock from her employer, Nicks Corporation, when the share price was $10 per share. Stevie’s restricted shares vested three years later when the market price was $13. Stevie held the shares for a little more than three years and sold them when the market price was $14. Assuming Stevie made an 83(b) election, what is the amount of Stevie’s ordinary income with respect to the restricted stock?

Riley participates in his employer’s 401(k) plan. He turns 72 years of age on October 15, 2024, and he plans on retiring on December 1, 2024. When must Riley receive his first distribution from the plan to avoid minimum distribution penalties?

Tom recently received 2,070 shares of restricted stock from his employer, Independence Corporation, when the share price was $11 per share. Tom’s restricted shares vested three years later when the market price was $15. Tom held the shares for a little more than three years and sold them when the market price was $13. What is the amount of Tom’s income or loss on the sale?

Anne LLC purchased computer equipment (five-year property) on August 29 for $31,000 and used the half-year convention to depreciate it. Anne LLC did not take §179 or bonus depreciation in the year it acquired the computer equipment. During the current year, which is the fourth year Anne LLC owned the property, the property was disposed of on January 15. Calculate the maximum depreciation expense for the current year. (Use MACRS Table 1 in Question 3) Note: Round final answer to the nearest whole number.

Daschle LLC completed some research and development during June of the current year. The related costs were $74,400. If Daschle wants to capitalize and amortize the costs as quickly as possible, what is the total amortization amount Daschle may deduct during the current year?

Daniela retired at the age of 65. The current balance in her Roth IRA is $200,000. Daniela established the Roth IRA 10 years ago. Through a rollover and annual contributions, Daniela has contributed $83,000 to her account. If Daniela receives a $53,000 distribution from the Roth IRA, what amount of the distribution is taxable?

Riley participates in an employer’s 401(k) plan. Riley retired in 2024 at age 75. When must Riley receive the distribution pertaining to 2024 to avoid minimum distribution penalties?

Arlington LLC exchanged land used in its business for some new land. Arlington originally purchased the land it exchanged for $31,500. The new land had a fair market value of $36,750. Arlington also received $5,500 of office equipment in the transaction. What is Arlington’s recognized gain or loss on the exchange?

5. Code range 70010 to 79999 reports anesthesia services.

Using the CPT manual, Select the appropriate code for the following procedure.  Laparoscopic examination of the adrenal gland with biopsy