100 shares of Novellis purchased for $12 per share on Sept 10 2015. On Aug 29 20

Question

100 shares of Novellis purchased for $12 per share on Sept 10 2015. On Aug 29 2016 price had fallen to $9 per share. Concerned that price might drop more, shares were sold that day! On Sept 26 2016 shares were repurchased when at $11 per share. What is the 2016 capital gain or loss on these transactions? 100 shares of Novellis purchased for $12 per share on Sept 10 2015. On Aug 29 2016 price had fallen to $9 per share. Concerned that price might drop more, shares were sold that day! On Sept 26 2016 shares were repurchased when at $11 per share. What is the 2016 capital gain or loss on these transactions?

Explanation / Answer

Purchase price as on Sept 10 2015 = $ 12 per share Less: Sale Price per share as on Aug 2 92016 $ 9 Per Shares Difference is as loss   $ 3 Per shares So there is Capital loss of $ 3 per shares shares purchase as on Sept 10 2016 There is repurchase the same share as on Sept 26 , 2016 but this have the no impact on capital gain and capital loss because the share are not sold   Answer = Ther is Capital Loss of $ 3 per shares on purchase of Shares as on Sept 10 2015 No capital loss and gain on the shares purchase as on sept 10 2016 because the share are not sold.

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