Ms. Linda Udall owns 800 shares of Fordam Inc. that she acquired several years ago at $10
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Ms. Linda Udall owns 800 shares of Fordam Inc. that she acquired several years ago at $10 per share. On April 30, 2012, she acquires an additional 200 shares at $12 per share. On July 15, 2012, after Fordam releases unexpectedly bad second quarter results, Ms. Udall sells all 1,000 of her shares at $5 per share. On August 1, 2012, she purchases 200 shares at $1 per share as she believes the market has overreacted to the bad news. Ms. Udall is still holding the shares at the end of the year. What are the tax consequences of these transactions?
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
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