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Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock (Nasdaq: MSFT) over the years: Date Purchased Shares 560 7/10/2013 4/20/2014 1/29/2015 11/02/2017 460 660 410 If Dahlia sells 1,280 shares of Microsoft for $84,480 on December 20, 2023, what is her capital gain or loss in each of the following assumptions? Note: Do not round intermediate calculations. a. She uses the FIFO method. Capital gain Basis $ 25,760 23,828 26,136 18,532 $ 193,556 x

Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock (Nasdaq: MSFT) over the years: Date Purchased Shares 560 7/10/2013 4/20/2014 1/29/2015 11/02/2017 460 660 410 If Dahlia sells 1,280 shares of Microsoft for $84,480 on December 20, 2023, what is her capital gain or loss in each of the following assumptions? Note: Do not round intermediate calculations. a. She uses the FIFO method. Capital gain Basis $ 25,760 23,828 26,136 18,532 $ 193,556 x

CONCEPTS IN FED.TAX.,2020-W/ACCESS
CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter11: Property Dispositions
Section: Chapter Questions
Problem 76IIP
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Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock (Nasdaq: MSFT) over the years: Date Purchased Shares 560 460 660 410 7/10/2013 4/20/2014 1/29/2015 11/02/2017 If Dahlia sells 1,280 shares of Microsoft for $84,480 on December 20, 2023, what is her capital gain or loss in each of the following assumptions? Note: Do not round intermediate calculations. a. She uses the FIFO method. Basis $ 25,760 23,828 26,136 18,532 Capital gain ✓$ 193,556 X
Transcribed Image Text:Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock (Nasdaq: MSFT) over the years: Date Purchased Shares 560 460 660 410 7/10/2013 4/20/2014 1/29/2015 11/02/2017 If Dahlia sells 1,280 shares of Microsoft for $84,480 on December 20, 2023, what is her capital gain or loss in each of the following assumptions? Note: Do not round intermediate calculations. a. She uses the FIFO method. Basis $ 25,760 23,828 26,136 18,532 Capital gain ✓$ 193,556 X
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