Navigation » List of Schools, Subjects, and Courses » Accounting 015 – Tax Accounting I » Midterm Exam » Midterm Exam Question 9
With Answers Good news! We are showing you only an excerpt of our suggested answer to this question. Should you need our help in customizing an answer to this question, feel free to send us an email at 
or chat with our customer service representative.
Midterm Exam Question 9
Question
Midterm Exam
9. Carolyn, who earns $400,000, is required to pay John, her ex-husband, $200,000 as part of the property settlement as a result of their divorce agreement which was executed in 2019. In turn, John transfers stock worth $50,000 to Carolyn. What is the amount of Carolyn’s adjusted gross income in 2019?
- $450,000
- $400,000
- $250,000
- $200,000
This question is taken from Accounting 015 – Tax Accounting I » Spring 2021 » Midterm Exam