Mary Janes great aunt Mildred gave Mary Jane a gift of 120 shares of publicly-traded WidgetsR 7s stock in 2017. At the time of the gift WidgetsR Us stock price was $100 per share. Several months later the price had dipped to $80 per share and Mary Jane sold the stock. Mindful of capital gains, Mary Jane asked her great aunt about the price that she had paid for the shares. Her great aunt said that she had no idea how much she had paid for the shares, and they had been purchased and maintained in a joint account by her much-beloved third husband Uncle Wally between the time when they were married in 1993 until his untimely death in January of 1999. After doing some research on historical stock prices, Mary Jane realized that from 1992 until 2000 WidgetsR Us stock never traded for less than $155 or more than $387 and was worth $230 at the time of Uncle Wallys death in 1999.

5. For 2018:

1. Mary Jane has a $2,400 capital loss.
2. Mary Jane has $12,000 in short-term capital gain income.
3. Mary Jane has $9,600 in short-term capital gain income.
4. Mary Jane has no income tax consequences.