_iam purchased

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter11: Property Dispositions
Section: Chapter Questions
Problem 48P
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Liam purchased 1,000 shares of UVX stock for $18,370 on April 10, 2018. He sold
600 of these shares on November 14, 2022, for $13,780. He continues to hold
the remaining 400 shares. Information about the sale was reported to him on
Form 1099-B. When Liam files his 2022 tax return, how should this transaction
be reported?
Transcribed Image Text:Liam purchased 1,000 shares of UVX stock for $18,370 on April 10, 2018. He sold 600 of these shares on November 14, 2022, for $13,780. He continues to hold the remaining 400 shares. Information about the sale was reported to him on Form 1099-B. When Liam files his 2022 tax return, how should this transaction be reported?
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