Question Content Area

Bob $($a non$-$corporate taxpayer$)$ purchased stock in ABF Corporation $6$ years ago for $$15,500.$ This year he sold it for $$12,650$ and then paid a $$250$ sales commission to his broker. He had no other capital gains or losses during the year.

Enter any "gain" amounts as positive numbers and "loss" amounts as negative $($e$.$g$.,$ a gain of $$100$ would be entered as $100$ and a loss of $$200$ would be entered as $-200.$ Dollar $($$$)$ signs are not required.

$(1$ point per question$)$

What is Bob's amount realized?

What is Bob's adjusted basis in MDH Corp stock?

What is Bob's realized gain or loss?

What is Bob's recognized gain or loss?

How much of the above gain$/$loss will Bob recognize as income$/$a deduction on his tax return?