Tommy sells a stock for $7,500. The price at the time of purchase was $4,200. He paid a commission to his broker of $275. How much is Reggie's amount realized?
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- Wilson Beckett buys a share of common stock directly from Anston Corporation for $13 in cash. Several weeks later, Beckett sells this share to Buddy O’Coron for $22 in cash. What is the impact on Anston of each of these transactions?William owns 200 shares of Data General stock. He purchased the stock for $20 a share. He sold her stock for $25 a share. The commissions required to buy and sell his stock totaled $130. Assuming that He received no dividends during the time she owned the stock, what is his total return for this transaction?Erin purchased stock in JKL Corporation several years ago for $8,750. In the current year, she sold the same stock for $12,800. She paid a $200 sales commission to her stockbroker. 1. What is Erin's amount realized?$fill in the blank 1 2. What is Erin's adjusted basis?$fill in the blank 2 3. What is Erin's realized gain or loss?$fill in the blank 3 gain 4. What is Erin's recognized gain or loss?$fill in the blank 5 gain 5. How is the gain or loss treated for tax purposes (if any)? Because the stock has been held for more than a year, there is . It will be taxed at , depending on the taxpayer's income.
- John bought 1,000 shares of intel stock on October 18,2015, for $30 per share, plus a $750 commission he paid to his broker. On December 12, 2019, he sold the shares for $42.50 per share. He also incurred a $1,000 fee for this transaction. 1. What is John's adjusted basis in the 1,000 shares of intel stock? 2. What amount does John realize when he sells the 1,000 shares ? 3. What is the gain or loss for John on sale of his intel stock? 4. What is the character of the gain or loss?John bought 2,100 shares of Intel stock on October 18, 2017, for $52 per share plus a $750 commission he paid to his broker. On December 12, 2021, he sells the shares for $75.50 per share. He also incurs a $1,000 fee for this transaction. a. What is John’s adjusted basis in the 2,100 shares of Intel stock? b. What amount does John realize when he sells the 2,100 shares? c. What is the gain/loss for John on the sale of his Intel stock? Gain?Please give me correct answer
- Stock owned by a brother is sold to his sister. The brother's adjusted basis of the stock is $22,000. He sells the stock for $19,000. The sister sells the stock to an unrelated party for $17,000. What is the gain recognized by the sister? a. Her basis is $17,000. The price she paid for it. She sold it for $19,000. She recognizes a gain of $2,000. b. Because of the situation, she only has a $1,000 recognized loss. c. She takes the brother's basis in the stock and recognizes the $1,000 gain. d. None of the answers provided are correct.Need Help Please Solve this oneVisno
- John bought 1,000 shares of Intel stock on October 18, 2018 for $30 per share plus a $750 commission he paid to his broker. On December 12, 2022, he sells the shares for $42.50 per share. He also incurs a $1,000 fee for this transaction. What is John’s adjusted basis in the 1,000 shares of Intel stock? What amount does John realize when he sells the 1,000 shares? What is the gain/loss for John on the sale of his Intel stock? What is the character of the gain/loss?bhaveshAccounting. Eva owns securities with a tax basis of