Sam Scurry bought several hundred shares of annable.com at a price of $41.40 about 5 years ago that sold for $64.20 per share today. Sam pays capital gains tax at the rate of 19% and pays tax on dividends at the rate of 27%. Suppose that annable.com elects not to pay a dividend this year and that Sam sells 19 shares of stock. How much of the total amount of proceeds from the sale will Sam get to keep?

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Mr. Chan’s employer gave him a share option in March last year to buy 10,000 shares in X Ltd for $5 each when the market price of the shares was $10.  Mr. Chan exercised the share option in March this year when the market price of the shares was $15 each.  He sold all the shares yesterday for $20 each.   What is the share option gain to be included in the assessable income?

John bought 1,000 shares of intel stock on October 18,2015, for $30 per share, plus a $750 commission he paid to his broker. On December 12, 2019, he sold the shares for $42.50 per share. He also incurred a $1,000 fee for this transaction. 1. What is John's adjusted basis in the 1,000 shares of intel stock? 2. What amount does John realize when he sells the 1,000 shares ? 3. What is the gain or loss for John on sale of his intel stock? 4. What is the character of the gain or loss?

Al Rodriguez sells 500 shares of Gold Mine Corp. short at $80 per share. The margin requirement is 50 percent. The stock falls to $62 over a three-month time period, and he closes out his position.   How much is his initial margin? What is his percentage gain or loss on his initial margin? If he is in a 35 percent tax bracket for short-term capital gains and a 15 percent bracket for long-term capital gains, what is his tax obligation? If the stock went up to $94 instead of down to $62, what would be his dollar loss? Assuming this is his only transaction for the year, how large a tax deduction could he take against other income?

John bought $1,000 shares of intel stock on Oct 18,2016, for $30 per share plus $750 commission he paid to his broker. On Dec 12, 2020, he sells the shares for $42.50 per share. He also incurs a $1,000 fee for this transaction. What’s john’s adjusted basis in the 1,000 shares of Intel Stock? What amount does John realize when he sells the 1,000 shares? What is the gain/loss for John on the sale of his Intel stock? What is the character of the gain/loss?

Sam spends $10,000 for 500 shares of XYZ, Inc. He sells all of these shares for $7,000 (a $3.000 loss) on December 15, 2020. He purchases another 500 shares of identical XYZ stock for $8,000 on January 10, 2021. What is Sam's investment basis in the XYZ shares he bought on January 10, 2021?

Liam, a shareholder in Lager, Inc., (a C corporation), would like to sell 800 of his shares of stock in Lager. Since Lager is not traded on an exchange, the only way to sell is the stock is by having Lager redeem the stock.   The fair market value of the 800 shares of stock is $200,000. Liam purchased the stock 10 years ago for $95/share. Lager has E&P of $700,000. The corporate stock in Lager is held as follows: Liam                                                                                       2,000 shares Jennifer (Liam’s sister)                                                   2,000 shares Katherine (Liam’s mother)                                           2,000 shares Beer Partnerships (Liam has a 30% interest)         4,000 shares                                                                                     10,000 shares How do you calculate the 800 shares of Liam’s stock to be treated as a qualified stock redemption or will it be treated as a distribution?