Guerda owns 1,500 shares of Ditchdirt common stock. During the current year, she sells 500 shares of

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Guerda owns 1,500 shares of Ditchdirt common stock. During the current year, she sells 500 shares of the stock for $15 per share and pays a commission of $300 on the sale. Guerda had purchased the 1,500 shares as follows:

What is Guerda's gain or loss on the sale of the stock?

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Concepts In Federal Taxation 2017

ISBN: 9781305965119

24th Edition

Authors: Kevin E. Murphy, Mark Higgins

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Question Posted: Feb 24, 2017 09:33 AM

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Guerda owns 1,500 shares of Ditchdirt common stock. During the current year, she sells 500 shares of

Question:

Purchase Date 1/18/14 5/12/14 Purchase Commissions Paid S 200 100 300 500 300 Cost Per Share S 9 S12 $11 S15 S 6 #of Shares 9 S1,600 100 3.000 2/15/15 12/31/15 2,700

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Absent specific identification of the shares sold the basis of the shares is determined on ...View the full answer

Concepts In Federal Taxation 2017

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