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What is omar recognized gain or loss on the stock sales

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Reference no: EM132038163

Question - Omar has the following stock transactions during 2015:

Stock Date purchased Number of shares sold

Number of shares Basis Selling price

Orange 1/2013 100 $1,000

Blue 6/2013 200 3,000

Yellow 4/2014 50 1,250

Blue 2/2015 150 1,800

Yellow 3/2015 175 5,250

Blue 7/2015 250 $3,500

Yellow 11/2015 200 7,200

a. What is Omar's recognized gain or loss on the stock sales if his objective is to minimize the recognized gain and to maximize the recognized loss?

b. What is Omar's recognized gain or loss if he does not identify the shares sold?

Reference no: EM132038163

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