Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased 7/10/2008 4/20/2009 1/29/2010 11/02/2012 Basis Shares 540 $ 23,760 440 640 390 21,912 24,064 16,848 If Dahlia sells 1,220 shares of Microsoft for $78,080 on December 20, 2018, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) b. She uses the specific identification method and she wants to minimize her current year capital gain.

Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased 7/10/2008 4/20/2009 1/29/2010 11/02/2012 Basis Shares 540 $ 23,760 440 640 390 21,912 24,064 16,848 If Dahlia sells 1,220 shares of Microsoft for $78,080 on December 20, 2018, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) b. She uses the specific identification method and she wants to minimize her current year capital gain.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter11: Property Dispositions

Section: Chapter Questions

Problem 35P

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