Anupay sold 900 shares of Stay-Rich Mutual fund for $85,600 in 2015. She purchased shares in the mutual fund in the following years. (all 2014 shares are considered to be held for 1 year)
a. Determine the amount of the gain or loss assuming Anupay uses the single category average cost method.
b. Assuming there are no other Schedule D transactions, how much of a gain or loss will Anupay recognize on her Form 1040 for 2015?
c. How much, if any of the gain or loss will be carried over to 2016?

Question

Anupay sold 900 shares of Stay-Rich Mutual fund for $85,600 in 2015. She purchased shares in the mutual fund in the following years.  (all 2014 shares are considered to be held for > 1 year)
a. Determine the amount of the gain or loss assuming Anupay uses the single category average cost method.
b. Assuming there are no other Schedule D transactions, how much of a gain or loss will Anupay recognize on her Form 1040 for 2015?
c. How much, if any of the gain or loss will be carried over to 2016?

Quizplus · Accepted Answer

The Answer of Anupay sold 900 shares of Stay-Rich Mutual fund for $85,600 in 2015. She purchased shares in the mutual fund in the following years.  (all 2014 shares are considered to be held for > 1 year)
a. Determine the amount of the gain or loss assuming Anupay uses the single category average cost method.
b. Assuming there are no other Schedule D transactions, how much of a gain or loss will Anupay recognize on her Form 1040 for 2015?
c. How much, if any of the gain or loss will be carried over to 2016?

Anupay Sold 900 Shares of Stay-Rich Mutual Fund for $85,600