Required information Problem 7-46 (LO 7-2) (Algo) [The following information applies to the questions displayed below.) Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2020: (Loss amounts should be indicated by a minus sign.) Description Stock A Stock B Stock C Stock D Stock E Date Purchased 1/23/1996 4/10/2020 8/23/2018 5/19/2010 8/20/2020 Basis $ 8,400 16,300 13,625 6,150 B, 105 Date Sold 7/22/2020 9/13/2020 10/12/2020 10/12/2020 11/14/2020 Amount Realized $ 5,420 20,290 19,210 14,125 4,075 Problem 7-46 Part-a (Algo) a. What is Grayson's net short-term capital gain or loss from these transactions? Not short-term capital gain or loss Required information Problem 7-46 (LO 7-2) (Algo) [The following information applies to the questions displayed below.) Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2020 (Loss amounts should be indicated by a minus sign.) Description Stock A Stock B Stock C Stock D Stock E Date Purchased 1/23/1996 4/10/2020 8/23/2018 5/19/2010 8/20/2020 Basis $ 8,400 16,300 13,625 6,150 8,105 Date Sold 7/22/2020 9/13/2020 10/12/2020 10/12/2020 11/14/2020 Amount Realized $ 5,420 20,290 19,210 14,125 4,075 Problem 7-46 Part-b (Algo) b. What is Grayson's net long-term gain or loss from these transactions? Net long-term capital gain or loss ! Required information Problem 7-46 (LO 7-2) (Algo) The following information applies to the questions displayed below) Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2020: (Loss amounts should be indicated by a minus sign.). Description Stock A Stock B Stock Stock D Stock E Date Purchased 1/23/1996 4/10/2020 8/23/2018 5/19/2010 8/20/2020 Basis $ 8,400 16,300 13,625 6,150 8,105 Dato Sold 7/22/2020 9/13/2020 10/12/2020 10/12/2020 11/14/2020 Amount Realized $ 5,420 20,290 19,210 14,125 4,025 Problem 7-46 Part-c (Algo) c. What is Grayson's overall net gain or loss from these transactions? Net capital gain or loss Required Information Problem 7-46 (LO 7-2) (Algo) [The following information applies to the questions displayed below.) Grayson (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2020: (Loss amounts should be indicated by a minus sign.) Description Stock Stock B Stock C Stock D Stock E Date Purchased 1/23/1996 4/10/2020 8/23/2018 5/19/2010 8/20/2020 Basis $ 8.400 16,300 13,625 6,150 8,105 Date Sold 7/22/2020 9/13/2020 10/12/2020 10/12/2020 11/14/2020 Amount Realized $ 5,420 20,290 19,210 14, 125 4,075 Problem 7-46 Part-d (Algo) d. What amount of the gain, if any, is subject to the preferential rate for certain capital gains? Net capital gain