How do I Figure out g and h?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
How do I Figure out g and h? Please help
Transcribed Image Text:1
(a)
Description of property
(Example: 100 sh. XYZ
Co.)
Sale of primary residence
(b)
Date acquired
(Mo., day, yr.)
10/01/12
(c)
Date sold or
disposed of
(Mo., day, yr.)
12/30/22
(d)
Proceeds (sales
price) (see
instructions)
561,000 ✓
(e)
Cost or other
basis. See the
Note below and
see Column (e)
in the separate
instructions
Adjustment, if any, to
gain or loss. If you enter
an amount in column (g),
(h)
enter a code in column (f). Gain or (loss).
Subtract column
See the separate
instructions.
(f)
Code(s)
from
instructions
292,000 ✔H
(g)
Amount of
adjustment
X
(e) from column
(d) and combine
the result with
column (g)
X
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