Amal received a Form 1099-DIV with a capital gain distribution of $210. She also received a Form

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Amal received a Form 1099-DIV with a capital gain distribution of $210. She also received a Form 1099-B from the sale of 240 shares of AMS stock she purchased for $2,900 plus a $28 commission fee on February 22, 2017. The net proceeds of the stock sale were $2,700 (the commission fee was $14) and the trade date was February 22, 2018. What are the amount and nature of Amal’s gain (loss) on these transactions?

a. $214 short-term loss and $210 long-term gain.

b. $214 long-term loss and $210 short-term gain.

c. $228 long-term loss and $210 short-term gain.

d. $228 short-term loss and $210 long-term gain.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Fundamentals Of Taxation 2019

ISBN: 9781260158670

12th Edition

Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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