Parent Corporation owns 85% of the common stock and 100% of the preferred stock of Subsidiary Corporation. Thecommon stock and preferred stock have adjusted bases of $500,000 and $200,000, respectively, to Parent. Subsidiaryadopts a plan of liquidation on July 3 of the current year, when its assets have a $1 million FMV. Liabilities on that dateamount to $850,000. On November 9, Subsidiary pays off its creditors and distributes $150,000 to Parent with respect toits preferred stoclc No cash remains to be paid to Parent with respect to the remaining $50,000 of its liquidationpreference for the preferred stock, or with respect to any of the common stoclc In each of Subsidiary’s tax years, less than10% of its gross income has been passive income. What are the amount and character of Parent’s loss on the preferredstock? The common stock?A partial list of research sources is0 IRC Secs. 165(g)(3) and 332(a)0 Reg. Sec 1.332.2(b)0 Spaulding Bakeries, Inc, 27 T. C. 684 (1957)0 H. K. Porter Co., Inc, 87 T. C 689 (1986)

Suppose your rich uncle gave you $50,000, which you plan to use for graduate school. you will make the investment now, you expect to earn an annual return of 6%, and you will make 4 equal annual withdrawals, beginning 1 year from today. under these conditions, how large would each withdrawal be so there would be no funds remaining in the account after the 4th?

Emily spent her summer vacation in buenos aires, argentina, where she got plastic surgery for a fraction of what it would cost in the united states. this is an example of:

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.