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Required information Problem 7-41 (LO 7-2) (Static) [The following information applies to the questions displayed below.] John bought 1,000 shares of Intel stock on October
Required information Problem 7-41 (LO 7-2) (Static) [The following information applies to the questions displayed below.] John bought 1,000 shares of Intel stock on October 18,2018 , for $30 per share plus a $750 commission he paid to his broker. On December 12,2022 , he sells the shares for $42.50 per share. He also incurs a $1,000 fee for this transaction. Problem 7-41 Part-a (Static) a. What is John's adjusted basis in the 1,000 shares of Intel stock? Required information Problem 7-41 (LO 7-2) (Static) [The following information applies to the questions displayed below.] John bought 1,000 shares of Intel stock on October 18,2018 , for $30 per share plus a $750 commission he paid to his broker. On December 12,2022 , he sells the shares for $42.50 per share. He also incurs a $1,000 fee for this transaction. Problem 7-41 Part c (Static) Required: c-1. What is the gain/loss for John on the sale of his Intel stock? c-2. What is the character of the gain/loss? Complete this question by entering your answers in the tabs below. What is the gain/loss for John on the sale of his Intel stock
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