1.Taxpayer, a cash method, calendar year taxpayer, engaged in the following transactions in shares of stock. Consider the amount and character of T's gain or loss in each transaction: (a)T bought 100 shares of stock on January 15 of year one at a cost of $50 per share. T sold them on January 16 of year two at $60 per share. (b)T bought 100 shares of stock on February 28 of year one at a cost of $50 per share. T sold them on February 29 of year two, a leap year, for $60 per share. (c)T bought 100 shares at $50 per share on February 10 of year one and another 100 shares at $50 per share on March 10 of year one. T sold 100 of the shares on February 15 of year two for $60 per share. See Reg. 1.1223-1 (i) and 1.1012-1(c)(1)(i). (d)T told T's broker to purchase 100 shares of stock on December 29 of year one at a time when its price was $50 per share. The stock was delivered to T on January 3 of year two when it was selling for $52 per share. T told T's broker to sell the stock on December 30 of year two when it sold for $60 per share, and it was delivered to Buyer on January 4 of year three when it was selling for $63 per share. (e) Same as (d), above, except that the value of the stock on December 30 of year two was $45 per share and on January 4 of year three was $48 per share. (f) T's father bought 100 shares of stock on January 10 of year one at $30 per share. On March 10 of year one when they were worth $40 per share he gave them to T who sold them on January 15 of year two for $60 per share (see 1223(2)). (g)T's father purchased 1000 shares of stock for $10 per share several years ago. The stock was worth $50 per share on March 1 of year one, the date of Father's death. The stock was distributed to T by the executor on January 5 of year two and T sold it for $60 per share on January 15 of year two. (h) Same as (g), above, except that T was executor of T's father's estate and as such T sold the stock on January 15 of year two for $60 per share to pay the estate's administration expenses.