Question
Lauren purchased 500 shares of Panera for $700 each 2 years ago. On December 31, 2019 she sold them for $500 each. On January 9,
Lauren purchased 500 shares of Panera for $700 each 2 years ago. On December 31, 2019 she sold them for $500 each. On January 9, 2020 she repurchased 300 shares of Panera for $450 each.
a. What is the realized loss and recognized loss in 2019?
B. ln February of 2020 she sells the 300 shares in Panera to her sister for $550 each. Her sister sells them in April of 2020 for $675 each. What is the realized gain (loss) and recognized gain (loss) in 2020 for Lauren? What is the realized gain (loss) and the recognized gain (loss) in 2020 for her sister?
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Essentials Of Federal Taxation 2019
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
10th Edition
1260189988, 1260189678, 9781260189674, 978-1259917103, 125991710X, 978-1260190045
