Ansel sells 400 shares of Sharpe, Inc., common stock on October 12, 2020, for $11,800 and pays

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Ansel sells 400 shares of Sharpe, Inc., common stock on October 12, 2020, for $11,800 and pays $600 in commissions on the sale. He acquired the stock for $18,400 plus $800 in commissions on July 8, 2019. Ansel owns the following securities in December 2020:

Number Purchase Market Security of Shares Date Basis Value Telio Corporation Perry, Inc. Header Company 2/13/17 8/11/18 4/13/19 $ 2,000 12,000 14,000 $ 7,000 27,000 20,000 400 300 600

What actions should Ansel take to optimize his capital gains and losses for 2020?

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Concepts In Federal Taxation 2021

ISBN: 9780357141212

28th Edition

Authors: Kevin E. Murphy, Mark Higgins, Randy Skalberg

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