Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Basis Purchased 7/18/2010 4/20/2011 Shares 400 $ 12,000 10,750 12,230 7,300 300 1/29/2012 500 11/02/2014 250 If Dahlia sells 800 shares of Microsoft for $40,000 on December 20, 2020, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) b. She uses the specific identification method and she wants to minimize her current-year capital gain.
Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Basis Purchased 7/18/2010 4/20/2011 Shares 400 $ 12,000 10,750 12,230 7,300 300 1/29/2012 500 11/02/2014 250 If Dahlia sells 800 shares of Microsoft for $40,000 on December 20, 2020, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) b. She uses the specific identification method and she wants to minimize her current-year capital gain.
Chapter12: S Corporations
Section: Chapter Questions
Problem 30P
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT