Antoine sold the following stock in 2016. ABC, Inc., is a §1202 qualified small business (QSB). (Asset Cost, Acquired Sale, Price, Sale Date) ABC, Inc. 250 shares: $ 192,500, 1/10/08 $ 246,000, 4/30/16 DEF, Inc. 160 shares: 35,200, 11/15/12, 28,000, 2/28/16 GHI, Inc. 80 shares: 33,760, 3/31/15, 29,600, 8/30/16

a. Find amount realized

b. Find amount recognized

c. What IRC section

d. After netting, what is the total gain or loss?

If Antoine is in the 33% tax rate bracket, at what rate is the net gain or loss taxed?

Answer rating: 100% (QA)

Answer 12 Calculate Realized and Recogniz... View the full answer