Anupay sold 900 shares of Stay-Rich Mutual fund for $85,600 in 2016.She purchased shares in the mutual fund in the following years.
2010 200 shares @ $105
2012 300 shares @ $100
2013 200 shares @ $110
2015 300 shares @ $88
2015 100 shares @ $95
all 2015 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 2016?
c.How much,if any of the gain or loss will be carried over to 2017?

Question

Anupay sold 900 shares of Stay-Rich Mutual fund for $85,600 in 2016.She purchased shares in the mutual fund in the following years.
2010 200 shares @ $105
2012 300 shares @ $100
2013 200 shares @ $110
2015 300 shares @ $88
2015 100 shares @ $95
all 2015 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 2016?
c.How much,if any of the gain or loss will be carried over to 2017?

Quizplus · Accepted Answer

The Answer of Anupay sold 900 shares of Stay-Rich Mutual fund for $85,600 in 2016.She purchased shares in the mutual fund in the following years.
2010 200 shares @ $105
2012 300 shares @ $100
2013 200 shares @ $110
2015 300 shares @ $88
2015 100 shares @ $95
all 2015 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 2016?
c.How much,if any of the gain or loss will be carried over to 2017?

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