Question
Gloria disposed of 1,800 common shares in IBM Inc. late in 2022. The proceeds of disposition on the sale were $25,200 before commission of $400.
Gloria disposed of 1,800 common shares in IBM Inc. late in 2022. The proceeds of disposition on the sale were $25,200 before commission of $400. Gloria owned 4,500 IBM at the end of 2021 before the 16% stock dividend which increased the paid up capital of $9 for every share issued on January 9, 2022. The following information relates to Gloria's purchases:
Year Acquired | Total Shares | Amount Paid |
2019 | 1500 | $14,506 |
2020 | 1000 | $12,000 |
2021 | 2000 | $26,000 |
What is the amount of taxable capital gain/(loss) to be reported on Gloria' 2022 personal tax return?
Group of answer choices
A) $2,430
B) $4,198
C) $3,798
D) $2,230
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Taxation Of Individuals And Business Entities 2016
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
7th Edition
9781259425479, 125942121x, 1259334872, 1259425479, 9781259421211, 978-1259334870
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