Problem 13-51 (LO. 1, 2, 3) Karen Samuels (Social Security number 123-45-6789) makes the following purchases and sales of stock: Number Price of per Transaction Date Company Shares Share 1-1- Purchase 300 MDG $75 2018 6-1- Purchase 150 GRU 300 2018 11-1- Purchase 60 MDG 70 2018 12-3- Sale 200 MDG 80 2018 3-1- Purchase 120 GRU 375 2019 8-1- Sale 90 GRU 330 2019 1-1- Sale 150 MDG 90 2020 2-1- Sale 75 GRU 500 2020 Assuming that Karen is unable to identify the specific lots that are sold with the original purchase, what is the recognized gain or loss on each type of stock as of the following dates.

Problem 13-51 (LO. 1, 2, 3) Karen Samuels (Social Security number 123-45-6789) makes the following purchases and sales of stock: Number Price of per Transaction Date Company Shares Share 1-1- Purchase 300 MDG $75 2018 6-1- Purchase 150 GRU 300 2018 11-1- Purchase 60 MDG 70 2018 12-3- Sale 200 MDG 80 2018 3-1- Purchase 120 GRU 375 2019 8-1- Sale 90 GRU 330 2019 1-1- Sale 150 MDG 90 2020 2-1- Sale 75 GRU 500 2020 Assuming that Karen is unable to identify the specific lots that are sold with the original purchase, what is the recognized gain or loss on each type of stock as of the following dates.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter14: Property Transactions: Determination Of Gain Or Loss And Basis Considerations

Section: Chapter Questions

Problem 38P

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