Given the following information for Jane Cole, complete Schedule D of Form 1040 through Part III.

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Given the following information for Jane Cole, complete Schedule D of Form 1040 through Part III.
• Stock options, which she purchases on February 14 of the current year for $850, expire on October 1. Basis was reported by the brokerage company to the IRS.
• On July 1, she sells for $4,500 her personal-use automobile acquired on March 31, 2012, for $18,000.
• On August 16, she sells for $3,100 her stock of York Corporation purchased as an investment on February 16, for $1,600. Basis was reported by the brokerage company to the IRS.
• On March 15, she sells for $5,600 an antique ring, a gift from her grandmother on January 10, 2007, when its FMV was $1,600. The ring was purchased by her grandmother on April 2, 1981, for $1,800.
• She has an STCL carryover of $250 from last year.

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Pearsons Federal Taxation 2023 Comprehensive

ISBN: 9780137840656

36th Edition

Authors: Timothy J. Rupert, Kenneth E. Anderson, David S Hulse

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