Business
Business, 15.04.2020 00:14, french31

John bought 1,700 shares of Intel stock on October 18, 2015, for $44 per share plus a $750 commission he paid to his broker. On December 12, 2019, he sells the shares for $63.50 per share. He also incurs a $1,000 fee for this transaction.

a.) What is John's adjusted basis in the 1000 shares of Intel stock?
b.) What amount does John realize when he sells the 1000 shares?
c.) What is the gain/loss for John on the sale of his Intel stock? What is the character of the gain/loss?

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Answers: 3

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John bought 1,700 shares of Intel stock on October 18, 2015, for $44 per share plus a $750 commissio...

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