Mike sold the following shares of stock in 2016:
$$\begin{array} { c c c c c }
& \text { Date Purchrred } & \text { Adjusted Bnris } & \text { DateSald } & \text { Sales Prareed } \
\text { Sorp. } & 7 / 25 / 2010 & \$ 4,600 & 9 / 25 & \$ 9,500 \
\text { Corp. } & 5 / 17 / 2012 & 1,600 & 6 / 07 & 1,100 \
\text { C Corp. } & 1 / 04 / 2014 & 3,900 & 8 / 25 & 7,500 \
\text { K Corp. } & 11 / 02 / 2015 & 2,500 & 10 / 01 & 1,800
\end{array}$$ What are the tax consequences of these transactions, assuming his marginal tax rate is (a) 33% and (b) 39.6%? Ignore the medicare tax on net investment income.

Question

Mike sold the following shares of stock in 2016:
 $$\begin{array} { c c c c c } 
& \text { Date Purchrred } & \text { Adjusted Bnris } & \text { DateSald } & \text { Sales Prareed } \
 \text { Sorp. } & 7 / 25 / 2010 & \$ 4,600 & 9 / 25 & \$ 9,500 \
 \text { Corp. } & 5 / 17 / 2012 & 1,600 & 6 / 07 & 1,100 \
\text { C Corp. } & 1 / 04 / 2014 & 3,900 & 8 / 25 & 7,500 \
\text { K Corp. } & 11 / 02 / 2015 & 2,500 & 10 / 01 & 1,800
\end{array}$$ What are the tax consequences of these transactions, assuming his marginal tax rate is (a) 33% and (b) 39.6%? Ignore the medicare tax on net investment income.

Quizplus · Accepted Answer

The Answer of Mike sold the following shares of stock in 2016:
 $$\begin{array} { c c c c c } 
& \text { Date Purchrred } & \text { Adjusted Bnris } & \text { DateSald } & \text { Sales Prareed } \
 \text { Sorp. } & 7 / 25 / 2010 & \$ 4,600 & 9 / 25 & \$ 9,500 \
 \text { Corp. } & 5 / 17 / 2012 & 1,600 & 6 / 07 & 1,100 \
\text { C Corp. } & 1 / 04 / 2014 & 3,900 & 8 / 25 & 7,500 \
\text { K Corp. } & 11 / 02 / 2015 & 2,500 & 10 / 01 & 1,800
\end{array}$$ What are the tax consequences of these transactions, assuming his marginal tax rate is (a) 33% and (b) 39.6%? Ignore the medicare tax on net investment income.

Mike Sold the Following Shares of Stock in 2016 What Are the Tax Consequences of These Transactions, Assuming His