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

Assuming that Karen is unable to identify the particular lots that are sold with the original purchase, determine the recognized gain or loss on each type of stock:
a. As of July 1, 2016.
b. As of December 31, 2016.
c. As of December 31, 2017.
d. As of July 1, 2018.
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 2017 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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Price per Transaction Date Number of Shares Company Share $ 75 Purchase 1-1-2016 300 MDG Purchase 6-1-2016 150 GRU 300 Purchase 11-1-2016 60 MDG 70 MDG Sale 12-3-2016 200 80 Purchase 3-1-2017 GRU 120 375 Sale 8-1-2017 90 GRU 330 MDG Sale 1-1-2018 150 90 Sale 2-1-2018 GRU 500 75