Problem 7-45 (LO 7-2)

Grayson is in the 25 percent tax rate bracket and has sold the following stocks in 2015: (Loss amounts should be indicated by a minus sign.)

Calculate the net gain or loss for these stocks.

Desc

Description	Date Purchased	Basis	Date Sold	Amount Realized	Capital Gain/(Loss)	Type
Stock A	1/23/1991	7250	7/22/2015	4500
Stock B	4/10/2015	14000	9/13/2015	17500
Stock C	8/23/2013	10750	10/12/2015	15300
Stock D	5/19/2005	5230	10/12/2015	12400
Stock E	8/20/2015	7300	11/14/2015	3500

a.	What is Graysons net short-term capital gain or loss from these transactions? (Loss amounts should be indicated by a minus sign.)

b.	What is Graysons net long-term gain or loss from these transactions? (Loss amounts should be indicated by a minus sign.)

c.	What is Graysons overall net gain or loss from these transactions? (Loss amounts should be indicated by a minus sign.)

d.	What amount of the gain, if any, is subject to the preferential rate for certain capital gains? (Loss amounts should be indicated by a minus sign.)

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