Question
Crystal owns 195 shares of Carson, Inc., stock that has an adjusted basis of $141,375. On December 18, 2015, she sells the 195 shares for
Crystal owns 195 shares of Carson, Inc., stock that has an adjusted basis of $141,375. On December 18, 2015, she sells the 195 shares for FMV ($124,800). On January 7, 2016, she purchases 260 shares of Carson stock for $197,860.
a. What are Crystals realized and recognized gain or loss on the sale of the 195 shares sold on December 18, 2015?
b. What is Crystals adjusted basis for the 260 shares purchased on January 7, 2016?
c. How would your answers in (a) and (b) change if she purchased only 130 shares for $104,650 in January?
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Crash Course Medical Research Audit And Teaching The Essentials For Career Success
Authors: Amit Kaura MSc BSc MB ChB MRCP AFHEA AMInstLM, Darrel Francis, Shreelata T Datta MD MRCOG LLM MBBS BSc, Philip Xiu MA MB BChir MRCP MRCGP MScClinEd FHEA MAcadMEd RCPathME
2nd Edition
0702073784, 978-0702073786
