Required information Skip to question [The following information applies to the questions displayed below.] Deirdre sold 105 shares of stock to her brother, James, for $3,255. Deirdre purchased the stock several years ago for $4,935. Note: Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. a. What gain or loss does Deirdre recognize on the sale?
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- tudent question Required information Skip to question [The following information applies to the questions displayed below.] Deirdre sold 105 shares of stock to her brother, James, for S 3,255. Deirdre purchased the stock several years ago for $4, 935. Note: Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable. b. What amount of gain or loss does James recognize if he sells the stock for $5,250?Ray, single, purchased corp. stock 12/27/2021 for $5,000. It became worthless 10/27/22. Additionally, he purchased §1244 stock 3 years ago for $200,000, but sold it this year for $50,000. How much ordinary loss and capital loss must he recognize? Insert the following answers in the blanks in this order. (please include a number 0-200000) in each blank. 1. Amount of short-term capital loss 2. Amount of long-term capital loss 3. Amount of ordinary loss 5000 100000 50000 A/ PErin purchased stock in JKL Corporation several years ago for $8,750. In the current year, she sold the same stock for $12,800. She paid a $200 sales commission to her stockbroker. 1. What is Erin's amount realized?$fill in the blank 1 2. What is Erin's adjusted basis?$fill in the blank 2 3. What is Erin's realized gain or loss?$fill in the blank 3 gain 4. What is Erin's recognized gain or loss?$fill in the blank 5 gain 5. How is the gain or loss treated for tax purposes (if any)? Because the stock has been held for more than a year, there is . It will be taxed at , depending on the taxpayer's income.
- 0 Required information [The following information applies to the questions displayed below] Three years ago, Adrian purchased 105 shares of stock in X Corporation for $14,490. On December 30 of year 4. Adrian sells the 105 shares for $11,340. Note: Leave no answers blank. Enter zero if applicable. Loss amounts should be indicated with a minus sign. b. Assuming Adrian has no other capital gains or losses, except that on January 20 of year 5, Adrian purchases 105 shares of X Corporation stock for $11.340. How much loss from the sale on December 30 of year 4 is deductible on Adrian's year 4 tax return? What basis does Adrian take in the stock purchased on January 20 of year 5? Deductible loss BasisDeirdre sold 192 shares of stock to her brother, James, for $5,760. Deirdre purchased the stock several years ago for $7,680. (Loss amounts should be indicated by a minus sign. Leave no answers blank. Enter zero if applicable.) b. What amount of gain or loss does James recognize if he sells the stock for $8,064? Recognized gain or lossRequired information [The following information applies to the questions displayed below.] Sarah (single) purchased a home on January 1, 2008, for $600,000. She eventually sold the home for $800,000. What amount of the $200,000 gain on the sale does Sarah recognize in each of the following alternative situations? (Assume accumulated depreciation on the home is $0 at the time of the sale.) Note: Leave no answer blank. Enter zero if applicable. b. Sarah used the property as a vacation home through December 31, 2020. She then used the home as her principal residence from January 1, 2021, until she sold it on January 1, 2024. Note: Round intermediate percentage computation to 2 decimal places. Gain recognized $ 162,500
- On April 18, 2020, Jane Juniper purchased 30 shares of Bryan Corp. stock for $210, and on September 29, 2020, she purchased 90 additional shares for $900. On November 28, 2020, she sold 48 shares, which could not be specifically identified, for $576 and on December 8, 2020, she sold another 25 shares for $188. What is her recognized gain or loss?Required information [The following information applies to the questions displayed below.] Sarah (single) purchased a home on January 1, 2008, for $600,000. She eventually sold the home for $800,000. What amount of the $200,000 gain on the sale does Sarah recognize in each of the following alternative situations? (Assume accumulated depreciation on the home is $0 at the time of the sale.) Note: Leave no answer blank. Enter zero if applicable. a. Sarah used the home as her principal residence through December 31, 2020. She used the home as a vacation home from January 1, 2021, until she sold it on January 1, 2024. Gain recognized $ 0Required information [The following information applies to the questions displayed below.] Sarah (single) purchased a home on January 1, 2008, for $600,000. She eventually sold the home for $800,000. What amount of the $200,000 gain on the sale does Sarah recognize in each of the following alternative situations? (Assume accumulated depreciation on the home is $0 at the time of the sale.) (Leave no answer blank. Enter zero if applicable.) d. Sarah used the home as a vacation home from January 1, 2008, through December 31, 2013. She used the home as her principal residence from January 1, 2014, until she sold it on January 1, 2020. (Round intermediate percentage computation to 2 decimal places.) Gain recognized IJ
- ! Required information [The following information applies to the questions displayed below.] Sarah (single) purchased a home on January 1, 2008, for $600,000. She eventually sold the home for $800,000. What amount of the $200,000 gain on the sale does Sarah recognize in each of the following alternative situations? (Assume accumulated depreciation on the home is $0 at the time of the sale.) Note: Leave no answer blank. Enter zero if applicable. d. Sarah used the home as a vacation home from January 1, 2008, through December 31, 2017. She used the home as her principal residence from January 1, 2018, until she sold it on January 1, 2024. Note: Round intermediate percentage computation to 2 decimal places. Gain recognized $ 0Margo bought stock for $1,500 plus a $25 commission; 18 months later she sold all the stock for $2,000 and paid a $25 commission. What was Margo's gain or loss (show your calculations), holding period and the nature of the sale of this stock? List all the forms Margo would use to report this sale.Required information [The following information applies to the questions displayed below] Sarah (single) purchased a home on January 1, 2008, for $600,000. She eventually sold the home for $800,000. What amount of the $200,000 gain on the sale does Sarah recognize in each of the following alternative situations? (Assume accumulated depreciation on the home is $0 at the time of the sale.) (Leave no answer blank. Enter zero if applicable.) c. Sarah used the home as a vacation home from January 1, 2008, until January 1, 2019. She used the home as her principal residence from January 1, 2019, until she sold it on January 1, 2020. Gain recognized