Question
Marcus had the following transactions for the year on his capital assets: Acquired Item Sold Selling Price Cost 9/13/2012 Stock 7/13/2020 $3,000 $4,500 6/20/2008 Stock
Marcus had the following transactions for the year on his capital assets:
Acquired Item Sold Selling Price Cost
9/13/2012 Stock 7/13/2020 $3,000 $4,500
6/20/2008 Stock 9/30/2020 $5,800 $2,000
7/1/2020 Stock 9/30/2020 $1,000 $1,300
In addition, Marcus has a long-term capital loss carryover from 2019 of $1,800.What is Marcus's 2020 net capital gain?
A. $700
B. $2,000
C. $2,300
D. $200
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
15th Edition
978-1337398169
