Mr. Hippo owns 10000 shares of lowland corporation common stock which he purchaed on March 8, 2011 for $200,000. On October 3, 2018 Hippo purchased an additional 4,000 shares for $76000. On october 12, 2018 he sells the original 10,000 shares for $170,000. on november 1, 2018 he purchaes an additional 4,000 shares for 66. 000 what is mr, hippos regogines gaon or loss on the sale on october 12

Q: On December 28, 2020, Kramer sells 150 shares of Lavender, Inc. stock for $77,000. On January 10,…

A: loss is $ 4,000basis for new shares is 90,000

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Q: On December 28, 2020, Kramer sells 150 shares of Lavender, Inc. stock for $77,000. On January 10,…

A: Please see the next step for the solution

Q: On December 28, 2020, Kramer sells 150 shares of Lavender, Inc. stock for $77,000. On January 10,…

A: Recognized Gain or loss:- It is the profit one makes from selling an asset if the sale value is more…