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Calculate the capital gains and losses

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Reference no: EM133103991

Question - Calculate the capital gains and losses for the following scenarios:

1. In 2020, Mario sold 400 shares of XYZ Public Corporation of Canada for $6,500. He received the full proceeds at the time of the sale and paid a commission of $60. The ACB of the shares is $4,000.

2. An art collector bought a statue for $750,000 in 2019 and sold it earlier this year for $655,000.

3. Last year, Diane bought 1,087 Tesla shares for $40,750 total. Earlier this year, she purchased 700 more Tesla shares for $750 each. Today, Gina sold all of her shares for $896 per share.

4. Five months ago, Francisca purchased 50,000 shares of MineCo for $0.50 each. He sold his investment today for $32,000.

Reference no: EM133103991

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