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On December 1, 20x7, George Jimenez needed a little extra cash for the upcoming holiday seaso and sold 300 shares of Microsoft stock for
On December 1, 20x7, George Jimenez needed a little extra cash for the upcoming holiday seaso and sold 300 shares of Microsoft stock for $50 per share. Prior to the sale, George held the following blocks of Microsoft stock Acquisition Date Number of Shares Market Price When Acquired 1/1/20x4 150 $31 per share 2/15/20x5 200 $45 per share 6/30/20x6 150 $35 per share Assume George tries to minimize his current capital gain using specific identification. How much total capital gain will George report from the sale of the 300 shares?
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