6 Question 5 - Ch7 Homework - 6 9 c _ * u 0 5 M Gmail II YouTube 9 Maps m Sign InlConnectl... k Translate News B Student Study Ce... Ch7 Homework 0 Saved Help Save& Exit Submit Check my work John bought 2,100 shares of Intel stock on October 18, 2018, for $52 per share plus a $750 commission he paid to his broker. On December 12, 2022, he sells the shares for $75.50 per share. He also incurs a $1,000 fee for this transaction. 0.2 Required: points a. What is John's adjusted basis In the 2,100 shares of Intel stock? eBook b. On the sale, John realizes $157,550. This Is the sales price of $158550 (Lei. 2,100 x $75.50) minus the transaction fee of $1,000. Print c-1. What is the gain/loss for John on the sale of his Intel stock? References c-Z. What is the character of the gain/loss? complete this question by entering your answers Iln the tabs below. Required A Required 5 Required C1 Required C2 What is the gain/loss for John on the sale of his Intel stock? gfalw I Dashboard * *Course Hero X Question 2 - Ch7 - Tax Forms - X + C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/activity/q... ( * M Gmail YouTube Maps M Sign In | Connect |... x Translate = News B Student Study Ce... Ch7 - Tax Forms i Saved Help Save & Exit Submit Check my work 2 L . . . - . - During 2022, your clients, Mr. and Mrs. Howell, owned the following investment assets: Broker's Commission Paid Investment Assets Date Acquired Part 2 of 2 Purchase Price at Time of Purchase 300 shares of IBM common 11/22/2019 10 , 380 $ 100 200 shares of IBM common 4/3/2020 43, 280 300 3,000 shares of Apple preferred 12/12/2020 150, 000 1, 300 2, 100 shares of Cisco common 8/14/2021 52 , 800 550 0.5 420 shares of Vanguard mutual fund 3/2/2022 15 , 000 No-load fund* points *No commissions are charged when no-load mutual funds are bought and sold. eBook Because of the downturn in the stock market, Mr. and Mrs. Howell decided to sell most of their stocks and the mutual fund in 2022 and to reinvest in municipal bonds. The following investment assets were sold in 2022: Print References Broker's Commission Paid Investment Assets Date Sold Sale Price at Time of Sale 300 shares of IBM common 5/6 $ 14, 000 $ 100 3,000 shares of Apple preferred 10/5 221, 700 2, 000 2, 100 shares of Cisco common 8/15 63, 280 650 451 shares of Vanguard mutual fund 12/21 16, 000 No-load fund* *No commissions are charged when no-load mutual funds are bought and sold. The Howells' broker issued them a Form 1099-B showing the sales proceeds net of the commissions paid. For example, the IBM sales proceeds were reported as $13,900 on the Form 1099-B they received. In addition to the sales reflected in the table above, the Howells provided you with the following additional information concerning 2022: . The Howells received a Form 1099-B from the Vanguard mutual fund reporting a $900 long-term capital gain distribution. This distribution was reinvested in 31 additional Vanguard mutual fund shares on 6/30/2022. . In 2016, Mrs. Howell loaned $6,300 to a friend who was starting a new multilevel marketing company called LD3. The friend declared bankruptcy in 2022, and Mrs. Howell has been notified she will not be receiving any repayment of the loan. Mc Graw Hill6 Question 5 - Ch7 Homework - Heauos M Gmail II YouTube 9 Maps m Sign InlConnectl... Translate News B Student Study Ce... Ch7 Homework 0 Saved Help Save& Exit Submit Check my work John bought 2,100 shares of Intel stock on October 18, 2018, for $52 per share plus a $750 commission he paid to his broker. On December 12, 2022, he sells the shares for $75.50 per share. He also incurs a $1,000 fee for this transaction. 0.2 Required: points a. What is John's adjusted basis In the 2,100 shares of Intel stock? eBook b. On the sale, John realizes $157,550. This Is the sales price of $158550 (Lei. 2,100 x $75.50) minus the transaction fee of $1,000. Print c-1. What is the gain/loss for John on the sale of his Intel stock? References c-Z. What is the character of the gain/loss? complete this question by entering your answers Iln the tabs below. Required A Required 5 Required C1 Required C2 What is John's adjusted basis In the 2,100 shares of Intel stock? Required B > gfalw I 6 Question 5 - Ch7 Homework - ee_auos M Gmail II YouTube 9 Maps m Sign InlConnectl... k Translate News B Student Study Ce... Ch7 Homework 0 Saved Help Save& Exit Submit Check my work John bought 2,100 shares of Intel stock on October 18, 2018, for $52 per share plus a $750 commission he paid to his broker. On December 12, 2022, he sells the shares for $75.50 per share. He also incurs a $1,000 fee for this transaction. 0.2 Required: points a. What is John's adjusted basis In the 2,100 shares of Intel stock? eBook b. On the sale, John realizes $157,550. This Is the sales price of $158550 (i.ei. 2,100 x $75.50) minus the transaction fee of $1,000. Print c-1. What is the gain/loss for John on the sale of his Intel stock? References c-Z. What is the character of the gain/loss? complete this question by entering your answers Iln the tabs below. Required A Required 5 Required C1 Required C2 0n the sale, John realizes $157,550. This is the sales price of $158,550 (i.e., 2,100 x $75.50) minus the transaction fee of $1,000. gfalw