John bought 1,000 shares of Intel stock on October 18, 2014, for $30 per share plus a $750 commission he paid to his broker. On December 12, 2017, he sells the shares for $42.50 per share. He also incurs a $1,000 fee for this transaction.

a. What is Johns adjusted basis in the 1,000 shares of Intel stock?

b. What amount does John realize when he sells the 1,000 shares?

c-1. What is the gain/loss for John on the sale of his Intel stock?

c-2. What is the character of the gain/loss?

Long-term capital loss

Short-term capital loss

Short-term capital gain

Long-term capital gain