Karen Samuels (Social Security number 123-45-6789) makes the following purchases and sales of stock:

Assuming that Karen is unable to identify the specific lots that are sold with the original purchase, determine the recognized gain or loss on each type of stock.

a. As of July 1, 2020.

b. As of December 31, 2020.

c. As of December 31, 2021.

d. As of July 1, 2022.

e. Form 8949 and Schedule D (Form 1040) are used to report sales of capital assets (which include stock sales). Go to the IRS website, and download the most current Form 8949 and Schedule D (Form 1040). Then complete the forms for part (c) of this problem, assuming that the brokerage firm did not report Karen’s basis to the IRS [complete Schedule D (Form 1040) through line 16].

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Transaction Purchase Purchase Purchase Sale Purchase Sale Sale Sale Date 1-1-2020 6-1-2020 11-1-2020 12-3-2020 3-1-2021 8-1-2021 1-1-2022 2-1-2022 Number of Shares 300 150 60 200 120 90 150 75 Company MDG GRU MDG MDG GRU GRU MDG GRU Price per Share $ 75 300 70 80 375 330 90 500