Margo bought stock for $1,500 plus a $25 commission; 18 months later she sold all the stock for $2,000 and paid a $25 commission. What was Margo's gain or loss (show your calculations), holding period and the nature of the sale of this stock? List all the forms Margo would use to report this sale.
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- Deirdre sold 192 shares of stock to her brother, James, for $5,760. Deirdre purchased the stock several years ago for $7,680. (Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable.) b. What amount of gain or loss does James recognize if he sells the stock for $8,064? Recognized gain or lossSally purchased a share of stock for $78.00. During the year she received a dividend of $3.11. At the end of the year she sold the stock for $91.40. Calculate the holding period return for her investment (excluding taxes).On April 18, 2020, Jane Juniper purchased 30 shares of Bryan Corp. stock for $210, and on September 29, 2020, she purchased 90 additional shares for $900. On November 28, 2020, she sold 48 shares, which could not be specifically identified, for $576 and on December 8, 2020, she sold another 25 shares for $188. What is her recognized gain or loss?
- William owns 200 shares of Data General stock. He purchased the stock for $20 a share. He sold her stock for $25 a share. The commissions required to buy and sell his stock totaled $130. Assuming that He received no dividends during the time she owned the stock, what is his total return for this transaction?Erin purchased stock in JKL Corporation several years ago for $8,750. In the current year, she sold the same stock for $12,800. She paid a $200 sales commission to her stockbroker. 1. What is Erin's amount realized?$fill in the blank 1 2. What is Erin's adjusted basis?$fill in the blank 2 3. What is Erin's realized gain or loss?$fill in the blank 3 gain 4. What is Erin's recognized gain or loss?$fill in the blank 5 gain 5. How is the gain or loss treated for tax purposes (if any)? Because the stock has been held for more than a year, there is . It will be taxed at , depending on the taxpayer's income.Wilson Beckett buys a share of common stock directly from Anston Corporation for $13 in cash. Several weeks later, Beckett sells this share to Buddy O’Coron for $22 in cash. What is the impact on Anston of each of these transactions?
- During 2019, Tom sold Sears stock for $14,200. The stock was purchased 4 years ago for $19,880. Tom also sold Ford Motor Company bonds for $49,700. The bonds were purchased 2 months ago for $42,245. Home Depot stock, purchased 2 years ago for $1,420, was sold by Tom for $2,130.Calculate Tom's net gain or loss, and indicate the nature of the gain or loss.Tammy bought 100 shares of stock on January 30, 2021 when the share price was $20. She sold the stock for $24 a share on January 31, 2022. What is the gain or loss from this transaction? Is it a long- or short-term capital gain or loss?Diane sold the following items during the current year: Item Holding Period Gain/ (Loss) XYZ Stock Held For Investment 3 years $ (6,000) Car Used For Business 11 months $ 2,000 Car Used For Personal Purposes 4 years $ (5,000) Inventory Sales 2 months $ 10,000 Before considering the above, Diane had adjusted gross income of $50,000. What is Diane's AGI after considering the foregoing items? Explain in full and show any computations.
- Anne has 5,500 shares of Sony stock that have an adjusted basis of $35,750. She sold the 5,500 shares of stock for cash of $16,500, and she also received a piece of land as part of the proceeds. The land was valued at $22,500 and had an adjusted basis to the buyer of $13,500. What is Anne's gain or loss on the sale of 5,500 shares of Sony stock?Assume, for purposes of this question only, that Susan acquired 2,000 shares of Hawk Corporation stock for $80,000 on March 31, 2014. On March 1, 2023, she sells 125 shares for $3,750. On March 22, 2023, she purchases 135 shares of Hawk Corporation stock for $4,725. a. What is Susan’s realized gain or loss from the sale on March 1, 2023? b. What is Susan’s recognized gain or loss from the sale on March 1, 2023? c. What is Susan’s basis in the 135 shares purchased on March 22, 2023? d. When does Susan’s holding period begin for the 135 sharesSheila purchases $155,200 of newly issued Gingo Corporation bonds for $139,680. The bonds have original issue discount (OID) of $15,520. After Sheila amortized $6,984 of OID and held the bonds for four years, she sold the bonds for $147,440. What is the amount and character of her gain or loss? Sheila has a capital gain of $ .