Question
On June 15, 2018, Maria sold 200 shares of XYZ common stock for its market value of $56,000. Maria had purchased the shares for $50,000
On June 15, 2018, Maria sold 200 shares of XYZ common stock for its market value of $56,000. Maria had purchased the shares for $50,000 on December 2, 2016. Her brokerage firm provided her with IRS Form 1099-B that properly reported the nature of her gain and its correct basis.
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Financial & Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
9781133607618, 978-1285868776
