During 2015, Anne sold several shares of stock held for investment. The followin
ID: 2459669 • Letter: D
Question
During 2015, Anne sold several shares of stock held for investment. The following is a summary of her capital transactions for the year. What is the amount of Anne’s net capital gain or loss for the year and what is the character of the gain or loss?
Acquired
Sold
Selling Price
Cost
2/15/15
7/15/15
$2,100
$1,400
6/25/13
8/2/15
3,500
2,300
9/25/15
12/15/15
800
1,000
12/28/12
6/15/15
600
900
(Points : 5) $0
Long term capital loss $1,100
Long term capital loss $1,400
Long term capital loss $3,000
Short term capital loss $500 and long term capital loss $900
Short term capital gain $500 and long term capital gain $900
Long term capital gain $1,100
Long term capital gain $1,400
Acquired
Sold
Selling Price
Cost
2/15/15
7/15/15
$2,100
$1,400
6/25/13
8/2/15
3,500
2,300
9/25/15
12/15/15
800
1,000
12/28/12
6/15/15
600
900
Explanation / Answer
Short term capital gain $500 and long term capital gain $900
Stocks bought and sold within one year will be short term gain
2/15 /15 - 7/15/15 gain= 2,100 - $1,400 = $700
9/25/15 - 12/15/25 loss =800 - 1000 = -200
net gain = 500 short term
long term
6/25/13 -8/25/15 3,500 - 2,300 = $1,200
12/18/12 - 6/15/15 = 600 -900 = $-300
Net long term capital gain 900
Short term capital gain $500 and long term capital gain $900
Stocks bought and sold within one year will be short term gain
2/15 /15 - 7/15/15 gain= 2,100 - $1,400 = $700
9/25/15 - 12/15/25 loss =800 - 1000 = -200
net gain = 500 short term
long term
6/25/13 -8/25/15 3,500 - 2,300 = $1,200
12/18/12 - 6/15/15 = 600 -900 = $-300
Net long term capital gain 900
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