16: For each of the Year 2 asset dispositions listed in the template, for each of the following transactions, calculate the correct gain or loss and enter the amount in the indicated cell in the "Gain or Loss" on an Excel spreadsheet. If the answer is zero, enter a zero.

Marge, a self-employed, calendar-year taxpayer, sold several assets during Year 2.

A. Marge sold 200 shares of Yack Corp. stock at $14 per share. Marge received the 200 shares as a gift from her brother, three years ago, at the time that the shares had a fair market value of $10 per share. Marge's brother purchased the stock for $16 per share.

B. Marge sold 450 shares of Zix Corp. stock at $40 per share. Marge received the 450 shares from her aunt's estate. The fair market value of the stock at the date of her aunt's death was $32 per share and did not change in the subsequent year. Her aunt originally purchased the stock for $20 per share.

C. Marge purchased 100 shares of Microsoft stock on November 1, Year 2 for $18 per share, and received a two-for-one stock split on November 30, Year 2. Marge sold all the shares of Microsoft stock on September 1, Year 3.

D. Marge purchased 100 shares of Johnson Co stock on January 1, Year 2 for $44 per share, and received a two for one stock split on November 30, Year 2. Marge sold all the shares of Johnson Co stock on July 7, Year 3.

E. Marge received 100 shares of Schwinn stock as a gift from her mother on May 15, Year 2, when the fair market value (FMV) of the stock was $8 per share. Her mother had purchased the stock on March 1, Year 2 for $5 per share. Marge sold the 100 shares of Schwinn stock on January 1, Year 3, for $14 per share.

F. Marge sold 500 shares of Blue Corp. stock at $20 per share. Marge purchased these shares two years prior at $22 per share. Three weeks subsequent to the sale, Marge purchased 100 shares of Blue Corp. stock at $18 per share.

G. Marge received 100 shares of M&M stock as a gift from her father on June 10, Year 2, when the fair market value (FMV) of the stock was $25 per share. Her father had purchased the stock on July 21, Year 1 for $27 per share. Marge sold the 100 shares of M&M stock on February 3, Year 3, for $29 per share.

H. Marge received 100 shares of Players stock as a gift from her father on April 15, Year 2, when the fair market value (FMV) of the stock was $25 per share. Her father had purchased the stock on March 21, Year 1 for $28 per share. Marge sold the 100 shares of Players stock on February 3, Year 3, for $23 per share.

I. Marge received 100 shares of Arizona Co stock as a gift from her best friend on February 22, Year 2, when the fair market value (FMV) of the stock was $38 per share. Her best friend had purchased the stock on February 10, Year 1 for $43 per share. Marge sold the 100 shares of Arizona Co stock on April 13, Year 3, for $41 per share.

J. Marge inherited 100 shares of Dove stock from her grandfather, who had purchased the stock on February 22, Year 2, for $10 per share. Marges grandfather died on May 1, Year 2 and the fair market value (FMV) of the stock on the date of death was $13 per share. The executor of the estate did not elect the alternative valuation date. The stock was transferred to Marge on August 1, Year 2 when the FMV was $14 per share. Marge sold the Dove stock on January 14, Year 3, for $15 per share.