Grayson’s Net Assignment -Top Universities
April 15th, 2021
Grayson is in the 24 percent tax rate bracket and has sold the following stocks in 2018: (Loss amounts should be indicated by a minus sign.)
| Description | Date Purchased | Basis | Date Sold | Amount Realized | ||||
| Stock A | 1/23/1994 | $ | 7,950 | 7/22/2018 | $ | 5,060 | ||
| Stock B | 4/10/2018 | 15,400 | 9/13/2018 | 19,210 | ||||
| Stock C | 8/23/2016 | 12,500 | 10/12/2018 | 17,680 | ||||
| Stock D | 5/19/2008 | 5,790 | 10/12/2018 | 13,450 | ||||
| Stock E | 8/20/2018 | 7,790 | 11/14/2018 | 3,850 | ||||
a. What is Grayson’s net short-term capital gain or loss from these transactions?
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b. What is Grayson’s net long-term gain or loss from these transactions?
c. What is Grayson’s overall net gain or loss from these transactions?
d.What amount of the gain, if any, is subject to the preferential rate for certain capital gains?
