Question
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Microsoft common stock
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years:
| Microsoft common stock | ||
| Date Purchased | Shares | Basis |
| 7/10/2008 | 400 | $10,000 |
| 4/20/2009 | 300 | $11,000 |
| 1/29/2010 | 500 | $12,230 |
| 11/02/2012 | 250 | $7,300 |
If Dahlia sells 800 shares of Microsoft for $40,000 on December 20, 2020, what is her capital gain or loss if she uses the FIFO method?
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years:
| Microsoft common stock | ||
| Date Purchased | Shares | Basis |
| 7/10/2008 | 400 | $10,000 |
| 4/20/2009 | 300 | $11,000 |
| 1/29/2010 | 500 | $12,230 |
| 11/02/2012 | 250 | $7,300 |
If Dahlia sells 800 shares of Microsoft for $40,000 on December 20, 2020, what is her capital gain or loss if she uses the specific identification method and wants to minimze her capital gain?
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Cost Accounting A Managerial Emphasis
Authors: Charles T. Horngren, George Foster, Srikant M. Datar, Howard D. Teall
4th Canadian Edition
0131971905, 978-0131971905
