After you engage Honorlock, you will be able to download and…

After you engage Honorlock, you will be able to download and print the Fall Semester Final Exam. Please write your answers directly on the exam sheet. (You may submit additional sheets of paper if you need to.) You may only use the Desmos online scientific calculator: https://www.desmos.com/scientific. Once finished, scan and submit your solutions to “Question 1.”  

Jonah is offered 7000  NQO options on January 1 2021.  They…

Jonah is offered 7000  NQO options on January 1 2021.  They vest of January 1, 2024.  The exercise price is $10 per share.  On January 1, 2024 Jonah exercise all the options when the price is $17 per share.  He holds the shares for 15 months and sells them for $20 per share.  He is in the 28% bracket and his preferential rate is 15%.  What is his tax liability on the exercise date and the date of the sale?

Shaun is a student who has received an academic scholarship…

Shaun is a student who has received an academic scholarship to State University. The scholarship paid $14,000 for tuition, $2,500 for fees, and $1,000 for books. In addition, Shaun’s dormitory fees of $8,500 were paid by the University when he agreed as a condition of receiving the dormitory fees to counsel freshman on campus living. What amount must Shaun include in his gross income?