Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2020 (Loss amounts should be indicated by a minus sign.) Description Stock A Stock Stock Stock Stock Date Purchased 1/23/1996 4/10/2020 8/23/2018 5/19/2010 8/20/2020 Basis $ 8,400 16,300 13,625 6,150 8,105 Date Sold 7/22/2020 9/13/2020 10/12/2020 10/12/2020 11/14/2020 Amount Realized $5,420 20,290 19.210 14,125 4,075 Problem 7-46 Part-b (Algo) b. What is Grayson's net long-term gain or loss from these transactions? Answer is complete but not entirely correct. s (40) Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2020; (Loss amounts should be Indicated by a minus sign.) Basis Description Stock Stock B Stock c Stock D Stock Date Purchased 1/23/1996 4/10/2020 8/23/2018 5719/2010 8/20/2020 $ 8,400 16,300 13,625 6,150 8,105 Date Sold 7/22/2020 9/13/2020 10/12/2020 10/12/2020 11/14/2020 Amount Realized $ 5,420 20,290 19,210 14,125 4,075 Problem 7-46 Part-a (Algo) a. What is Grayson's net short-term capital gain or loss from these transactions? Net honom capaganor Required information Problem 7-46 (LO 7-2) (Algo) [The following information applies to the questions displayed below.) Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2020: (Loss amounts should be indicated by a minus sign.) Description Stock A Stock Stock c Stock D Stock Date Purchased 1/23/1996 4/10/2020 8/23/2018 5/19/2010 8/20/2020 Bania $ 8,400 16,300 13,625 6,150 8,105 Dato Sold 7/22/2020 9/13/2020 10/12/2020 10/12/2020 11/14/2020 Amount Realized $5,420 20,290 19,210 14,125 4,075 Problem 7-46 Part-c (Algo) c. What is Grayson's overall net gain or loss from these transactions? Answer is complete but not entirely correct. 10,490 Net capital gain or los $ Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2020: (Loss amounts should be indicated by a minus sign.) Description Stock Stock Stock C Stock D Stock Date Purchased 1/23/1996 4/10/2020 8/23/2018 5/19/2010 8/20/2020 Basis $ 8,400 16,300 13,625 6,150 8,105 Date Sold 7/22/2020 9/13/2020 10/12/2020 10/12/2020 11/14/2020 Amount Realised $ 5,420 20,290 19,210 14,125 4,075 Problem 7-46 Part-d (Algo) d. What amount of the gain, if any, is subject to the preferential rate for certain capital gains? Answer is complete but not entirely correct. Net capital $ 7,942