Charu Khanna received a Form 1099-B showing the following stock transactions and basis during 2020: None of

Question:

Charu Khanna received a Form 1099-B showing the following stock transactions and basis during 2020:

Stock 4,000 shares Green Co. 500 shares Gold Co. 5,000 shares Blue Co. 100 shares Orange Co. Date Purchased

None of the stock is qualified small business stock. The stock basis was reported to the IRS. Calculate Charu’s net capital gain or loss using Schedule D and Form 8949 on Pages 4-53 through 4-56.

SCHEDULE D (Form 1040) Department of the Treasury Internal Revenue Service (99) Name(s) shown on return

17 18 19 20 21 22 .  If line 16 is a gain, enter the amount from line 16 on Form 1040, 1040-SR, or 1040-NR,

Form 8949 Department of the Treasury Internal Revenue Service Name(s) shown on return OMB No. 1545-0074 Sales

Form 8949 (2020) Name(s) shown on return. Name and SSN or taxpayer identification no. not required if shown


Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Income Tax Fundamentals 2021

ISBN: 9780357141366

39th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill

Question Posted: