ACC 575 (ACC575)

Conner purchased 300 shares of Zinco stock for $30,000 in 1991. On May 23, 2009, Conner sold all the stock to his daughter Alice for $20,000, its then fair market value. Conner realized no other gain or loss during 2009. On July 26, 2009, Alice sold the 300 shares of Zinco for $25,000. 2. Data Corp., a calendar year corporation, purchased and placed into service office equipment during November 2009. No other equipment was placed into service during 2009. 3. Platt owns land that is opera...