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Please see below. Please show all calculations as I need to do this in excel. Thank you. 2. In 2013 Mr. Dale paid 47,600 for

Please see below. Please show all calculations as I need to do this in excel. Thank you.

2. In 2013 Mr. Dale paid 47,600 for 3,400 shares of GKL mutual fund and elected to reinvest dividends in additional shares. in 2013 and 2014 he received form 1099's reporting the following:

2013: dividends reinvested $4,920, shares purchased 312, price per share $15.769, total shares owned 3712

2014: dividends reinvested 5,873, shares purchased 340, price per share $17.274, total shares owned 4052

A. If Mr. Dale sells his 4052 shares for $18 a share, compute his recognized gain

B. If he sells only 800 shares for $18 a share and uses the FIFO method to determine basis, compute his recognized gain.

C. If he sells only 800 shares for $18 a share and uses the average basis method, compute his recognized gain

3. In 2000 Ms. Ennis, a head of household, contributed $50,000 in exchange for 500 shares of Sets stock. Seta is a qualified small business. This year Ms. Ennis sold all 500 shares for $117,400. Her only other investment income was was an $8,600 long term capital gain from the sale of land. Her taxable income before consideration of her two capital transactions is $590,000.

A. Compute Ms. Ennis' income tax and medicare contribution tax for the year.

B. How would the computation change if Ms. Ennis had acquired the Seta stock in 2012 instead of 2000.

4. In 2004 Mr. EF, a single taxpayer, contributed $45,000 in exchange for 500 shares of DB stock. In 2007, he paid $40,000 to another shareholder to purchase 1,000 more DB shares. All DB's stock qualified as section 1244 stock when it was issued. This year Mr. EF sold all 1,500 DB shares for $16 per share. His only income item was his $80,000 salary.

A. Compute Mr. EF's AGI

B. How would AGI change if if he recognized a $20,000 capital gain on the sale of other securities?

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