Keisha sold 200 shares of Chic-Chic stock in 2014 for $22,500 and received a 1099-B to record the sale of the shares. Keisha's investment portfolio includes the following purchases of Chic-Chic's stock: 2005 100 shares at $100 per share 2006 50 shares at $110 per share 2007 125 shares at $130 per share 2010 75 shares at $125 per share Assuming Keisha does not identify which shares she sold, she will recognize:

Answer:

Explanation

Assumption is FIFO if shares are not identified. 100 shares $110 + 50 shares $120 + 50 shares $140 = $24,000. Sell price = $23,000 $24,000 basis = $1,000 loss.