During 2010, Roberto sold 830 shares of Casual Investor Mutual fund for $8.875 per share. The shares were purchased on the following dates: 11eb79ad_038b_f928_9598_153cbce9676b_SM1713_00 Calculate the gain (loss) on the sale under the following assumptions (carry your calculations to three places): b. Basis is calculated using the average cost method (assume all shares are long-term).

Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

Edition 4ISBN: 978-0078110993

Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps

Edition 4ISBN: 978-0078110993

Exercise 59

During 2010, Roberto sold 830 shares of Casual Investor Mutual fund for $8.875 per share. The shares were purchased on the following dates:

Calculate the gain (loss) on the sale under the following assumptions (carry your calculations to three places):
b. Basis is calculated using the average cost method (assume all shares are long-term).

Explanation

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Sale Proceeds = 830 shares x $...