Questions 9 and 10 only. Thank you!

9. Lana sold the following securities. Security 1 - Acme Industries Stock 2 - Acme Industries Stock 3- Acme Industries Stock 4 - Acme Industries Stock Date of Purchase Date Sold 05/30/2014 1 09/25/2018 01/17/2015 09/30/2018 10/30/2017 | 08/25/2018 08/25/2017 08/28/2018 Number of Shares 200 400 100 96 The gross proceeds for stock sales #1 and #3 were $8,975. The sales price per share for both stocks #3 and #4 was $38 per share. Calculate the proceeds from the sale of the stock purchased on 5/30/2014. a) $8,975 b) $5,175 c) $7,448 d) $3,800 10. Keeping in mind the gross proceeds for stocks #1 and #3 was $8,975 and the sales price per share for stocks #3 and #4 was $38, assume the total gross proceeds from stock sales for 2018 was $20,000. Determine the sale price per share of the stock purchased on 1/17/2015. Security 1 - Acme Industries Stock 2 - Acme Industries Stock 3 - Acme Industries Stock 14 - Acme Industries Stock Date of Purchase 05/30/2014 01/17/2015 10/30/2017 08/25/2017 Date Sold 09/25/2018 09/30/2018 08/25/2018 08/28/2018 Number of Shares 200 400 100 L 96 a) $38.00 b) $22.23 c) $25.88 d) $18.44 11. Jason wants to sell some property but needs to determine the basis first. Which of the following items fails to increase basis? a) Improvements b) Repairs c) Commissions d) Sales tax Oliver inherited some items from his mother after her death. If he decides to sell these items, he will need to determine the basis. How is the basis for inherited property determined? a) Donor's adjusted basis b) Original purchase price c) Fair market value at the date of death d) Fair market value on the date the property is physically received Copyright 2019, The Income Tax School, Inc. - All Rights Reserved SOLA - 11.3