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Problem - Karen Samuels (Social Security number 123-45-6789) makes the following purchases and sales of stock:
Transaction
Date
Number of Shares
Company
Price per Share
Purchase
1-1-2017
300
MDG
$ 75
6-1-2017
150
GRU
11-1-2017
60
70
Sale
12-3-2017
200
80
3-1-2018
120
375
8-1-2018
90
330
1-1-2019
2-1-2019
75
500
Assuming that Karen is unable to identify the particular lots that are sold with the original purchase, determine the recognized gain or loss on each type of stock.
a. As of July 1, 2017.
b. As of December 31, 2017.
c. As of December 31, 2018.
d. As of July 1, 2019.
e. Form 8949 and Schedule D (Form 1040) are used to report sales of capital assets (which include stock sales). Go to the IRS website, and download the 2018 Form 8949 and Schedule D (Form 1040). Then complete the forms for part (c) of this problem, assuming that the brokerage firm did not report Karen's basis to the IRS [complete Schedule D (Form 1040) through line 16].
Enter the appropriate numbers/formulas in the shaded gray cells
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