Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased Shares Basis 7/10/2011 430 $ 14,190 4/20/2012 330 12,804 1/29/2013 530 14,098 11/02/2015 280 9,016 If Dahlia sells 890 shares of Microsoft for $47,170 on December 20, 2021, what is her capital gain or loss in each of the following assumptions? a. She uses the FIFO method. Capital gains? b. She uses the specific identification method and she wants to minimize her current-year capital gain. Capital gains?

Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased Shares Basis 7/10/2011 430 $ 14,190 4/20/2012 330 12,804 1/29/2013 530 14,098 11/02/2015 280 9,016 If Dahlia sells 890 shares of Microsoft for $47,170 on December 20, 2021, what is her capital gain or loss in each of the following assumptions? a. She uses the FIFO method. Capital gains? b. She uses the specific identification method and she wants to minimize her current-year capital gain. Capital gains?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Date Purchased	Shares	Basis
7/10/2011	430	$ 14,190
4/20/2012	330	12,804
1/29/2013	530	14,098
11/02/2015	280	9,016

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NEED HELP ON PART B, PLEASE. Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased Shares Basis 7/10/2011 620 $ 32,240 4/20/2012 520 30,056 1/29/2013 720 32,832 11/02/2015 470 24,064 If Dahlia sells 1,460 shares of Microsoft for $105,120 on December 20, 2021, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) a.)She uses the FIFO method. (answered) Capital gain =28,232 b. She uses the specific identification method and she wants to minimize her current-year capital gain. Capital gain =