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John bought 1,100 shares of Intel stock on October 18, 2018, for $32 per share plus a $750 commission he paid to his broker. On
John bought 1,100 shares of Intel stock on October 18, 2018, for $32 per share plus a $750 commission he paid to his broker. On December 12, 2022, he sells the shares for $45.50 per share. He also Incurs a $1,000 fee for this transaction. Required: a. What is John's adjusted basis in the 1,100 shares of Intel stock? b. What amount does John realize when he sells the 1,100 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? Complete this question by entering your answers in the tabs below. Required A Required B Required C1 Required C2 What is John's adjusted basis in the 1.100 shares of Intel stock? Adjusted basis Required B > John bought 1,100 shares of Intel stock on October 18, 2018, for $32 per share plus a $750 commission he paid to his broker. On December 12, 2022, he sells the shares for $45.50 per share. He also incurs a $1,000 fee for this transaction Required: a. What is John's adjusted basis in the 1,100 shares of Intel stock? b. What amount does John realize when he sells the 1100 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? Complete this question by entering your answers in the tabs below. Required A Required B Required C1 Required C2 What amount does John realize when he sells the 1,100 shares? Sales realization
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