Jan purchased 100 shares of Novell stock for $12 a share on September 10, 2016. On...
Jan purchased 100 shares of Novell stock for $12 a share on September 10, 2016. On August 29, 2017, the price had fallen to $9. Concerned that the price might decline further. Jan sold all her shares that day.
Homework Answers
Answer:
| Date | Particulars | Amount($) |
| Sep 10, 2016 | Purchase (100*$12) | $1,200 |
| Aug 29, 2017 | Sale (100*$9) | $900 |
| Loss on sale | $300 |
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Question 32 of 75. Jan purchased 100 shares of Novell stock for $12 a share on September 10, 2017. On August 29, 2018, the price had fallen to $9. Concerned that the price might decline further, Jan sold all her shares that day. On September 26, 2018, she re-purchased the stock when it was $11 a share. What is Jan's 2018 capital gain or loss on these transactions? A $0. $100 short-term loss. $300 long-term loss.
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Question 32 of 75. Jan purchased 100 shares of Novell stock for $12 a share on September 10, 2017. On August 29, 2018, the price had fallen to $9. Concerned that the price might decline further, Jan sold all her shares that day. On September 26, 2018, she re-purchased the stock when it was $11 a share. What is Jan's 2018 capital gain or loss on these transactions? A $0. $100 short-term loss. $300 long-term loss.
Please provide the answer.
Thanks
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