Question
The Nelsons had the following activity in their brokerage account during the year (all transactions were reported on Form 1099-B. Basis information on each stock
The Nelsons had the following activity in their brokerage account during the year (all transactions were reported on Form 1099-B. Basis information on each stock sale was reported to the IRS):
Sold 100 shares of Disney, Inc. 10/9/20 $3,710
Sold 5 shares of Target, Inc. 5/15/20 $2,415
Relevant tax basis/holding period information related to sales of securities in the current year:
Purchased 100 shares of Disney Inc. 8/3/18 $8,134
Purchased 10 shares of Target, Inc. 10/4/19 $2,728
The Nelsons have a $3,500 long-term capital loss carryover from the prior tax year.
Use Form 8949 and page 1 of Schedule D to compute net long-term and short-term capital gains
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