Question

512 puis UL UNU. How many shar Seth owns 150 shares of stock with a bad UI 5 1,000 does he now own, and what is his basis per share? 50 shares with a basis of $36 per share. O 50 shares with a basis of $108 per share. 450 shares with a basis of $4 per share. O 450 shares with a basis of $12 per share. Mark for follow up Question 31 of 75. Which of the following statements regarding the reporting of sales of stock is NOT true? If the total of sales of stock in the same year result in a loss, the sales are not reported on the taxpayer's return. Short-term and long-term capital gains and losses are reported on Form 8949 and carried to Schedule D. O Total capital gain is computed by combining net short-term gains and losses and net long-term gains and losses Under certain circumstances, short-term and long-term capital gains and losses may be aggregated and reporte Schedule D. Mark for follow up Question 32 of 75. In 2018, Marlene purchased two shares of common stock in a biotechnology firm. Marlene paid $70 for $90 for the next share. Later in the year, the company declared a 2 for 1 common stock split. Marlene's stock shares is O Average of four shares at $40 a share.

Answer 1

The correct answer is - If the total of sales of stock in the same year result in a loss, the sales are not reported on the taxpayer's return.

Capital losses are reportable as deductions on the investor’s tax return, just as capital gains must be reported as income.