John and Marnie, a married couple who file jointly, sold 3 stocks from their portfolio this year and used the funds as a down payment for a new car. On April 20, 2019, they purchased 23 shares for $49 each. They also recently purchased 50 shares of Moody's stock on July 18th of the current year, at $365.75 per share, and at the same time they also purchased 20 shares of Microsoft for $359.49 per share. They sold their stock on October 27th of the current year and got $301.97 per share for Moody's, $168.22 per share for Apple, and $329.81 per share for Microsoft. John and Marnie want to know how much they will report as a gain or loss and which amounts, if any, will be taxed at preferential rates?

Answer rating: 100% (QA)

John and Marnie purchased 23 shares of Apple stock on 4202019 for 49 per share for a total of 1127 T... View the full answer