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John bought 2,250 shares of Intel stock on October 18, 2014, for $55 per share plus a $750 commission he paid to his broker. On
John bought 2,250 shares of Intel stock on October 18, 2014, for $55 per share plus a $750 commission he paid to his broker. On December 12, 2018, he sells the shares for $80.00 per share. He also incurs a $1,000 fee for this transaction. Problem 7-41 Part-a a. What is John's adjusted basis in the 2,250 shares of Intel stock? Adjusted basis b. What amount does John realize when he sells the 2,250 shares? Sales realization c-1. What is the gain/loss for John on the sale of his Intel stock? Gain Loss c-2. What is the character of the gain/loss? Short-term capital loss OLong-term capital loss Long-term capital gain Short-term capital gain
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