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SWFT Corp Partner Estates Trusts

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter13: Comparative Forms Of Doing Business

Section: Chapter Questions

Problem 43P

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[The following information applies to the questions displayed below.]
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the
years:
Date
Purchased
Shares
7/10/2011
4/20/2012
1/29/2013
11/02/2015
Basis
$ 27,840
25,824
28,288
20,296
580
480
680
430
If Dahlia sells 1,340 shares of Microsoft for $91,120 on December 20, 2021, what is her capital gain or loss in each of the
following assumptions? (Do not round intermediate calculations.)
a. She uses the FIFO method.

b. She uses the specific identification method and she wants to minimize her current-year capital gain.

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