What is paul gain and loss reported on his tax return

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Melissa purchased her home in 2011 for $225,000. She and her two children lived there year round until she sold her home in 2016 for $310,000. Melissa did not receive form 1099-S from her lender. How should Melissa report the sale of her home?

a. Schedule D (Capital Gains and Losses)

b. Form 982 (Reduction of Tax Attributes Due to Discharge of Indebtedness)

c. Both A and B

d. Melissa does not need to report the sale of her home

Paul bought stock for $2,000 and sold the same stock for $2,300. Not included in the sale was the $35 commission fee he paid his broker. What is Paul’s gain/loss reported on his tax return?

a. Gain of $300

b. Loss of $300

c. Gain of $265

d. Loss of $265

Reference no: EM131881907

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