Charu Khanna received a Form 1099-B showing the following stock transactions and

Question

Charu Khanna received a Form 1099-B showing the following stock transactions and basis during 2016 Stock Date Purchased Date Sold Sales Cost Price ($) Basis 4,000 shares Green Co 500 shares Gold Co 5,000 shares Blue Co. 100 shares Orange Co. 06/04/05 02/12/16 02/04/06 11/15/15 08/05/16 09/05/16 10/08/16 07/12/16 2,000 3,000 54,000 62,000 18,000 22,000 19,000 18,000 None of the stock is qualified small business stock. The stock basis was reported to the IRS Calculate Charu's net capital gain or loss using Schedule D and Form 8949

Explanation / Answer

Stocks Date Purchased Date Sold Sales Price Cost Price Profit/(loss) 4,000 Shares Green co. 6/4/04 8/5/15 $12,000 $3,000 $9,000 500 shares Gold co. 2/12/15 9/5/15 $54,000 $62,000 -$8,000 5,000 shares Blue co. 2/4/05 10/8/15 $18,000 $22,000 -$4,000 100 shares Orange Co. 11/15/14 7/12/15 $19,000 $18,000 $1,000 Charu’s net capital gain or loss -$2,000

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