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You are in the 28% income tax bracket and pay long-term capital gains taxes of 15%. What are the taxes owed or saved in the
You are in the 28% income tax bracket and pay long-term capital gains taxes of 15%. What are the taxes owed or saved in the current year for each of the following sets of transactions?
- You buy 100 shares of ZYX for $10 and after seven months sell it on December 31, 201X, for $23. You buy 100 shares of WER for $10 and after 15 months sell it on December 31, 201X, for $7. You buy 100 shares of DFG for $10 and after nine months, on December 31, 201X, it is selling for $15]
B. You buy 100 shares of ZYX for $60 and after seven months sell it on December 31, 201X, for $37. You buy 100 shares of WER for $60 and after 15 months sell it on December 31, 201X, for $67. You buy 100 shares of DFG for $60 and after nine months sell it on December 31, 201X, for $76.
- On January 2, 201X, you buy 100 shares of ZYX for $40 and sell it for $31 after 22 months. On January 2, 201X, you buy 100 shares of WER for $40 and sell it for $27 after 15 months. On January 2, 201X, you buy 100 shares of DFG for $40 and sell it for $16 after 18 months.
- On January 2, 201X, you buy 100 shares of ZYX for $60. On October 2, 201X, you sell 100 shares of ZYX for $40. On October 10, 201X, you purchase 100 shares of ZYX for $25.
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