Annette purchased stock on March 1 for $200,000. At December 31, it was worth $210,000. She also purchased a bond on September 1, for $20,000. At year - end, it was worth $15,000. Determine Annette 's realized and recognized gain or loss.
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- Sheila purchases $155,200 of newly issued Gingo Corporation bonds for $139,680. The bonds have original issue discount (OID) of $15,520. After Sheila amortized $6,984 of OID and held the bonds for four years, she sold the bonds for $147,440. What is the amount and character of her gain or loss? Sheila has a capital gain of $ .Sally purchased a share of stock for $78.00. During the year she received a dividend of $3.11. At the end of the year she sold the stock for $91.40. Calculate the holding period return for her investment (excluding taxes).Maria purchased 100 shares of JAX stock for $30 per share and sold this same stockone year later for $29 per share. She paid commissions of $50 when she purchasedthe stock and $45 when she sold the stock. Dividends of $2 per share were paidduring the year. The capital loss on this stock transaction was?
- On April 18, 2020, Jane Juniper purchased 30 shares of Bryan Corp. stock for $210, and on September 29, 2020, she purchased 90 additional shares for $900. On November 28, 2020, she sold 48 shares, which could not be specifically identified, for $576 and on December 8, 2020, she sold another 25 shares for $188. What is her recognized gain or loss?subject:accounting2.
- 1 Nemji purchased one share of Stock A for $500. Three years later, Nemji exchanged the share of Stock A with their friend for one share of Stock B, which was worth $1,500. What is Nemji's amount realized, adjusted basis and gain or loss realized on the transaction?Please answer the following question: Facts: Matthew sold 200 shares of Xerox stock on December 23, Year 1. The stock had a basis of $4,000 and was sold for $2,000, resulting in a $2,000 loss realized. On January 10 of Year 2, Matthew caused his IRA to purchase 400 shares of Xerox stock for $4,000. Issue: Assuming there are available capital gains, may Matthew deduct the $2,000 capital loss on the sale of his Xerox stock on his Year 1 tax return? 1) Give a simple, nontechnical 1 sentence answer to the question posed. 2) What is (are) the Code section(s) at issue? 3) Are any Treasury Regulations relevant? 4) List the case/ruling authority on which you relied to arrive at your answer (please provide the name of any case, not just a citation). 5) Provide a step-by-step description of how you arrived at your answer and located the primary sources that you used to support it (include a discussion of the case law or Ruling authority on which you relied)What is a Capital Asset?, Holding Period, Calculation of Gain or Loss, and Net Capital Gains (LO 4.1, 4.2, 4.3, 4.5) During 2019, Tom sold Sears stock for $13,000. The stock was purchased 4 years ago for $18,200. Tom also sold Ford Motor Company bonds for $45,500. The bonds were purchased 2 months ago for $38,675. Home Depot stock, purchased 2 years ago for $1,300, was sold by Tom for $1,950.Calculate Tom's net gain or loss, and indicate the nature of the gain or loss.
- In the current year, Erin had the following capital gains (losses) from the sale of her investments: $2,900 LTCG, $24,100 STCG, ($9,900) LTCL, and ($15,900) STCL. What is the amount and nature of Erin's capital gains and losses? Multiple Choice $1,200 net short-term capital gain. $1,200 net long-term capital loss. $3,100 net short-term capital gain. $3,100 net long-term capital loss. None of the choices are correct.Margo bought stock for $1,500 plus a $25 commission; 18 months later she sold all the stock for $2,000 and paid a $25 commission. What was Margo's gain or loss (show your calculations), holding period and the nature of the sale of this stock? List all the forms Margo would use to report this sale.During the current year, Irving, an individual, had long-term capital losses of $2,000 and short-term capital losses of $1,500. If this is the first year Irving has experienced capital gains or losses, what amount of these losses may Irving deduct this year? Group of answer choices A.$3,500 B.$3,000 C.$1,750 D.$2,500