T purchased the following lots of ZYX Corporation stock: $$\begin{array} { l l }
\text { 25 Shares } & \text { Purchased 4/30/2012 Cost } \$ 1,800 \
\text { 40 Shares } & \text { Purchased 5/20/2012 Cost } \$ 3,000 \
25 \text { Shares } & \text { Purchased 9/21/2012 Cost } \$ 2,000
\end{array}$$ T sold 70 shares in December, 2012, for $6,300, but was unable to identify specific shares to be sold by certificate number and date of purchase.What was T's adjusted basis in the $30,000 shares sold?
A)$5,200
B)$5,250
C)$5,360
D)$6,300

Question

T purchased the following lots of ZYX Corporation stock: $$\begin{array} { l l } 
\text { 25 Shares } & \text { Purchased 4/30/2012 Cost } \$ 1,800 \
\text { 40 Shares } & \text { Purchased 5/20/2012 Cost } \$ 3,000 \
25 \text { Shares } & \text { Purchased 9/21/2012 Cost } \$ 2,000
\end{array}$$ T sold 70 shares in December, 2012, for $6,300, but was unable to identify specific shares to be sold by certificate number and date of purchase.What was T's adjusted basis in the $30,000 shares sold?
A)$5,200
B)$5,250
C)$5,360
D)$6,300

Quizplus · Accepted Answer

The Answer of T purchased the following lots of ZYX Corporation stock: $$\begin{array} { l l } 
\text { 25 Shares } & \text { Purchased 4/30/2012 Cost } \$ 1,800 \
\text { 40 Shares } & \text { Purchased 5/20/2012 Cost } \$ 3,000 \
25 \text { Shares } & \text { Purchased 9/21/2012 Cost } \$ 2,000
\end{array}$$ T sold 70 shares in December, 2012, for $6,300, but was unable to identify specific shares to be sold by certificate number and date of purchase.What was T's adjusted basis in the $30,000 shares sold?
A)$5,200
B)$5,250
C)$5,360
D)$6,300

T Purchased the Following Lots of ZYX Corporation Stock T Sold 70 Shares in December, 2012, for $6,300, but