Determine the realized and recognized gain or loss and the
character of the gain or loss.
1. Emilio and Charita own stock in Software Corporation.
They purchased 1,000 shares for $20 per share in July 2006. They
paid $400 in brokerage commissions.
On July 21, 2013, Software Corporation distributed a 2-for-1
stock split.
The fair market value at the time of the split was $100 per
share.
2. On July 21, 2008, Emelio's father gave him 100 shares of
stock...