Rachel sells 100 shares of TD bank on August 31. She purchased the shares for $500 and sold them for $100. On September 3 her spouse, Elle, purchases 100 shares of TD bank for $400. What is the taxable income to Rachel on the sale, and what is the cost basis to Elle of the shares she purchased?

Answer rating: 100% (QA)

SOLUTION Based on the information provided Rachel sold 100 shares o... View the full answer