0 Lng-term, capital gain of $30.000. O Short-term, ordinary gain of s30,000 Shor
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0 Lng-term, capital gain of $30.000. O Short-term, ordinary gain of s30,000 Short-term, capital gain of $30,000 aul trasgryam.mset.ao ?Mark for follow up weal. 21 1'.co 15% Question 40 .oo to15 Alpine stock: 54 shares for $1,546.49 in 2013. 67 shares for $1,798.59 in 2014. 98 Jane purchased the following shars o plpine in 2017 and did not identify which shares she shares for $2,435.37 in 2015. should she use for computing gain or loss? h shares she sold . What basis She sold 133 shares of Alpine in 2017 and di O $3,355 O $3,497 O $3,511 O $3,643 ?Mark for follow up Question 41 of 75. k at a loss on October 14, 2017. To avoid being subject to the wash sale rules, on Miles sold 100 shares of Wescon stoc which of the following dates could he have purchased the stock? O September 1, 2017 O September 15, 2017 O November 2, 2017 O November 10, 2017 Mark for follow up estion 42 of 75Explanation / Answer
40) when the shares are purchased electronically , the shares sold would be calcultaed on FIFO method(First in first out) meaning the shares you bought first would be understood to be sold first
therefore for sale of 133 shares:
54 shares purchased in 2013 $1546.49
67 shares purchased in 2014 $1,798.59
12 shares purchased in 2015(2435.37/98*12) $298.22
Total 133 shares $3,643
therefore answer is d)3,643
41)The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss, and within 30 days before or after this sale, buys a “substantially identical” stock or security, or acquires a contract or option to do so
therfore the date would be september 15 ,2017
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