Question: Scott Bean is a computer programmer and incurred the following transactions during 2020. Sales Price Basis Purchased Sold Provo City Bonds $ 10,000 $ 5,000

Scott Bean is a computer programmer and incurred the following transactions during 2020. Sales Price Basis Purchased Sold Provo City Bonds $ 10,000 $ 5,000 11/1/2015 5/2/2019 Cisco Preferred Stock 25,000 6,000 7/15/2010 1/12/2019 Dreyer's Grand Ice Cream Stock 14,000 10,000 7/1/2018 4/20/2019 Novell Common 2.000 10,000 2/12/2016 11/29/2019 IBM Stock 4,000 3,000 8/2/2007 5/2/2019 ABC Common 6,000 9,000 5/30/2017 10/20/2019 Prior-Year ST Capital Loss Carryforward 5,500 Cisco Preferred Stock 25,000 Dreyer's Grand Ice Cream Stock 14,000 10,000 7/1/2018 4/20/2019 Novell Common 2,000 10,000 2/12/2016 11/29/2019 IBM Stock 4,000 3,000 8/2/2007 5/2/2019 ABC Common 6,000 9,000 5/30/2017 10/20/2019 Prior-Year ST Capital Loss Carryforward 5,500 Prior year LT Capital Loss Carryforward 5,000 How much Net Long-term Capital Gain would Scott Bean report for 2020
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
