Ac. Eight years ago, SW purchased 1,900 shares of Delta stock. On May 20 of the current year, it sold these shares for $38 per share. In each of the following cases, compute SW’s recognized gain or loss on this sale: 1-SW’s cost basis in the 1,900 shares was $47 per share. It did not purchase any other Delta shares during this year. 2-SW’s cost basis in the 1,900 shares was $47 per share. It purchased 2,100 shares of Delta on May 1 for $40 per share. 3-SW’s cost basis in the 1,900 shares was $47 per share. It purchased 2,100 shares of Delta on June 8 for $40 per share. 4-SW’s cost basis in the 1,900 shares was $32 per share. It purchased 2,100 shares of Delta on June 8 for $40 per share.
Ac.
Eight years ago, SW purchased 1,900 shares of Delta stock. On May 20 of the current year, it sold these shares for $38 per share.
In each of the following cases, compute SW’s recognized gain or loss on this sale:
1-SW’s cost basis in the 1,900 shares was $47 per share. It did not purchase any other Delta shares during this year.
2-SW’s cost basis in the 1,900 shares was $47 per share. It purchased 2,100 shares of Delta on May 1 for $40 per share.
3-SW’s cost basis in the 1,900 shares was $47 per share. It purchased 2,100 shares of Delta on June 8 for $40 per share.
4-SW’s cost basis in the 1,900 shares was $32 per share. It purchased 2,100 shares of Delta on June 8 for $40 per share.
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