Question
Harry bought 1 share of ABC Corp. for $500/share on January 1, 2015; Harry paid $10 in acquisition costs to acquire the stock. On January
Harry bought 1 share of ABC Corp. for $500/share on January 1, 2015; Harry paid $10 in acquisition costs to acquire the stock. On January 1, 2016, Harry bought 1 share of ABC Corp. for $1000/share; Harry paid $20 in acquisition costs to acquire the stock. On January 1, 2017, Harry bought 1 share of ABC Corp. for $1500/share; Harry paid $30 in acquisition costs to acquire the stock. On January 1, 2019, Harry sold 1 share of ABC Corp. for $1000/share. Harry paid $25 in selling expenses. What is Harrys realized gain or loss on the sale of the 1 share of ABC Corp. if Harry uses the default method to identify which shares were sold?
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