In 2014, Mr. Dale paid $47,600 for 3,400 shares of GKL Mutual Fund and elected to reinvest
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In 2014, Mr. Dale paid $47,600 for 3,400 shares of GKL Mutual Fund and elected to reinvest his year-end dividends in additional shares. In 2014 and 2015, he received Form 1099s reporting the following:
a. If Mr. Dale sells his 4,052 shares for $18 per share, compute his recognized gain.
b. If he sells only 800 shares for $18 per share and uses the FIFO method to determine basis, compute his recognized gain.
c. If he sells only 800 shares for $18 per share and uses the average basis method, compute his recognized gain.
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Related Book For
Principles Of Taxation For Business And Investment Planning 2017
ISBN: 9781259753015
20th Edition
Authors: Sally M. Jones, Shelley C. Rhoades Catanach, Sandra R. Callaghan
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