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How much gain or loss does t recognize on this sale

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Reference no: EM131986260

Question - T purchased the following lots of stock in Z Corporation:

50 shares 1/12/2008 Cost $1,200

100 shares 2/28/2013 Cost $3,000

75 shares 10/16/2014

Cost $2,500

T sold 75 shares on January 16, 2017 for $2,800. His only instruction to his broker, who actually held the shares for T, was to sell 75 shares.

a. How much gain or loss does T recognize on this sale?

b. How could this result be altered?

Reference no: EM131986260

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