In: Accounting
Juan (single) is in the 24 percent tax rate bracket and has sold the following stocks in 2019: (Loss amounts should be indicated by a minus sign.)
Description | Date Purchased | Basis | Date Sold | Amount Realized | ||||
Stock A | 1/23/1995 | $ | 7,850 | 7/22/2019 | $ | 4,980 | ||
Stock B | 4/10/2019 | 15,200 | 9/13/2019 | 18,970 | ||||
Stock C | 8/23/2017 | 12,250 | 10/12/2019 | 17,340 | ||||
Stock D | 5/19/2009 | 5,710 | 10/12/2019 | 13,300 | ||||
Stock E | 8/20/2019 | 7,720 | 11/14/2019 | 3,800 | ||||
c. What is Juan’s overall net gain or loss from these transactions?
Net capital gain or loss: ?
Description | Date Purchased | Basis-B $ | Date Sold | Amount Realized- A $ | Gain or (loss) A-B | Nature | ||
Stock A | 1/23/1995 | 7,850 | 7/22/2019 | 4,980 | - 2,870 | Long Term | ||
Stock B | 04/10/2019 | 15,200 | 9/13/2019 | 18,970 | 3,770 | Short Term | ||
Stock C | 8/23/2017 | 12,250 | 10/12/2019 | 17,340 | 5,090 | Long Term | ||
Stock D | 5/19/2009 | 5,710 | 10/12/2019 | 13,300 | 7,590 | Long Term | ||
Stock E | 8/20/2019 | 7,720 | 11/14/2019 | 3,800 | - 3,920 | Short Term | ||
Total | 48,730 | 58,390 | 9,660 | |||||
Net Capital Gain or ( loss ) is $ 9,660 . | ||||||||