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Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the...
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of...
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased Shares Basis 7/10/2009 530 $ 22,790 4/20/2010 430 20,984 1/29/2011 630 23,058 11/02/2013 380 16,036 If Dahlia sells 1,190 shares of Microsoft for $74,970 on December 20, 2019, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) a. She uses the FIFO method. b. She uses the...
Required information [The following information applies to the questions displayed below.] Dahlia is in the 32...
Required information [The following information applies to the questions displayed below.] Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the Part 1 of 2 years: Date Purchased Shares Basis $ 20,000 7/10/2008 500 4/20/2009 400 18,320 1/29/2010 600 20,160 11/02/2012 13,720 350 If Dahlia sells 1,100 shares of Microsoft for $66,000 on December 20, 2018, what is her capital gain or loss in each of the following assumptions?...
18. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO...
18. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO on March 13, 1996. He has held the investment since the original purchase and has not reinvested any cash dividends. The stock split history is below. Calculate the number of shares that John owns today and his basis in each share. Assuming the current market price of Microsoft is $70.00 per share, how much capital gain or loss would John need to report if...
John Simpson purchased 10 shares (cost per share 521) of Microsoft stock in its IPO on...
John Simpson purchased 10 shares (cost per share 521) of Microsoft stock in its IPO on March 13, 1996. He has held the investment since the original purchase and has not invested any cash dividends. The stock split history is below. Calculate the number of shares that John owns today and his basis in each share. Assuming the current market price of Microso $70.00 per share, how much capital gain or loss would John need to report the sells the...
Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks...
Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2019: (Loss amounts should be indicated by a minus sign.) Description Date Purchased Basis Stock A 1/23/1995 $ 7,800 Stock B 4/10/2019 15,100 Stock C 8/23/2017 12,125 Stock D 5/19/2009 5,670 Stock E 8/20/20197,685 Date Sold Amount Realized 7/22/2019 $ 4,940 9/13/2019 18,850 10/12/2019 17,170 10/12/2019 13,225 11/14/2019 3,775 a. What is Grayson's net short-term capital gain or loss from these transactions? b....
Grayson is a 24% tax rate bracket and has sold the following stocks in 2018 Description...
Grayson is a 24% tax rate bracket and has sold the following stocks in 2018 Description Date purchased Basis Date Sold Amount Realized Stock A 1/23/1994 $7,500 7/22/2018 $4,700 Stock B 4/10/2018 $14,500 9/13/2018 $18,130 Stock C 8/23/2016 $11,375 10/12/2018 $16,150 Stock D 5/19/2008 $5,430 10/12/2018 $12,775 Stock E 8/20/2018 $7,475 11/14/2018 $3,625 a) What is Grayson's net short-term capital gain or loss from these transactions? b). What is Grayson's net long -term gain or loss from these transactions? c)....
Problem 7-32 (LO. 2, 8) Abby, a single taxpayer, purchased 10,000 shares of $ 1244 stock...
Problem 7-32 (LO. 2, 8) Abby, a single taxpayer, purchased 10,000 shares of $ 1244 stock several years ago at a cost of $20 per share. In November of the current year, Abby received an offer to sell the stock for $12 per share. She has the option of either selling all of the stock now or selling half of the stock now and half of the stock in January of next year. Abby will receive a salary of $80,000...
please show calculations. Total Shares Basis/Sharo Date 09/18/1998 04/12/2002 06/26/2003 06/12/2003 05/20/2006 12/06/2008 02/20/2010 03/26/2012 Type...
please show calculations.
Total Shares Basis/Sharo Date 09/18/1998 04/12/2002 06/26/2003 06/12/2003 05/20/2006 12/06/2008 02/20/2010 03/26/2012 Type of Split 2 for 1 2 for 1 3 for 2 3 for 2 2 for 1 2 for 1 2 for 1 2 for 1 What is the total number of shares John owns after the final split? 10 a) b) 170 c) 1,440 d) 2,920 5. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO on...
[The following information applies to the questions displayed below.] Grayson is in the 24 percent tax rate bracket and has sold the following stocks in 2018: (Loss amounts should be indicated by a mi...
[The following information applies to the questions displayed below.] Grayson is in the 24 percent tax rate bracket and has sold the following stocks in 2018: (Loss amounts should be indicated by a minus sign.) Description Date Purchased Basis Date Sold Amount Realized Stock A 1/23/1994 $ 7,650 7/22/2018 $ 4,820 Stock B 4/10/2018 14,800 9/13/2018 18,490 Stock C 8/23/2016 11,750 10/12/2018 16,660 Stock D 5/19/2008 5,550 10/12/2018 13,000 Stock E 8/20/2018 7,580 11/14/2018 3,700 c. What is Grayson’s overall...
Simon is an Australian resident taxpayer who has undertaken the following transactions during the tax year ending 30 June 2019. Item number Transaction Particulars 1 Sold car Purchased...
Simon is an Australian resident taxpayer who has undertaken the following transactions during the tax year ending 30 June 2019. Item number Transaction Particulars 1 Sold car Purchased on 1 March 2010 for $30,000. Sold on 20 April 2019 for $12,000 2 Sold painting Purchased on 1 January 2008 for $600. Sold on 3 February 2019 for $6,000 3 Shares sold in C Pty Ltd Purchased on 14 April 2013 for $10,000 and sold on 15 May 2019 for $20,000....
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased Shares Basis 7/10/2009 530 $ 22,790 4/20/2010 430 20,984 1/29/2011 630 23,058 11/02/2013 380 16,036 If Dahlia sells 1,190 shares of Microsoft for $74,970 on December 20, 2019, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) a. She uses the FIFO method. b. She uses the...
Required information [The following information applies to the questions displayed below.] Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the Part 1 of 2 years: Date Purchased Shares Basis $ 20,000 7/10/2008 500 4/20/2009 400 18,320 1/29/2010 600 20,160 11/02/2012 13,720 350 If Dahlia sells 1,100 shares of Microsoft for $66,000 on December 20, 2018, what is her capital gain or loss in each of the following assumptions?...
18. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO on March 13, 1996. He has held the investment since the original purchase and has not reinvested any cash dividends. The stock split history is below. Calculate the number of shares that John owns today and his basis in each share. Assuming the current market price of Microsoft is $70.00 per share, how much capital gain or loss would John need to report if...
John Simpson purchased 10 shares (cost per share 521) of Microsoft stock in its IPO on March 13, 1996. He has held the investment since the original purchase and has not invested any cash dividends. The stock split history is below. Calculate the number of shares that John owns today and his basis in each share. Assuming the current market price of Microso $70.00 per share, how much capital gain or loss would John need to report the sells the...
Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2019: (Loss amounts should be indicated by a minus sign.) Description Date Purchased Basis Stock A 1/23/1995 $ 7,800 Stock B 4/10/2019 15,100 Stock C 8/23/2017 12,125 Stock D 5/19/2009 5,670 Stock E 8/20/20197,685 Date Sold Amount Realized 7/22/2019 $ 4,940 9/13/2019 18,850 10/12/2019 17,170 10/12/2019 13,225 11/14/2019 3,775 a. What is Grayson's net short-term capital gain or loss from these transactions? b....
Problem 7-32 (LO. 2, 8) Abby, a single taxpayer, purchased 10,000 shares of $ 1244 stock several years ago at a cost of $20 per share. In November of the current year, Abby received an offer to sell the stock for $12 per share. She has the option of either selling all of the stock now or selling half of the stock now and half of the stock in January of next year. Abby will receive a salary of $80,000...
please show calculations.
Total Shares Basis/Sharo Date 09/18/1998 04/12/2002 06/26/2003 06/12/2003 05/20/2006 12/06/2008 02/20/2010 03/26/2012 Type of Split 2 for 1 2 for 1 3 for 2 3 for 2 2 for 1 2 for 1 2 for 1 2 for 1 What is the total number of shares John owns after the final split? 10 a) b) 170 c) 1,440 d) 2,920 5. John Simpson purchased 10 shares (cost per share $21) of Microsoft stock in its IPO on...
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