Kelly was active in the market, buying and selling stocks for her own account. Below are a series of transactions Kelly initiated during the last quarter of 2018:

The XYZ stock sold on 11/01 had been purchased two years earlier for $18 per share. What is Kelly’s realized and recognized gain or loss on each of the sale transactions? (Use FIFO for determining which stocks were sold.) What is Kelly’s basis in each of the stocks remaining in her portfolio?

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Date of transaction Price per share Number of shares Transaction Stock Bought Bought 10/15 $25 $20 $15 $22 $16 $12 $22 $18 $21 ABC 1,000 10/29 11/01 11/04 11/07 DEF 500 Sold XYZ 800 DEF GHI Sold Bought Bought 500 1,000 XYZ 11/18 2,000 11/20 Sold Bought Bought ABC 500 11/22 DEF 500 1,000 12/02 ABC