Question

On September 5, 2018, Maxima sold 300 shares of stock in BrightEyez LLC that she had purchased July 19, 2003. Her cost basis is $10,000; she sold it for $20,000 and paid a commission of $2,400. Calculate Maxima’s “amount realized” and “realized gain/loss.”

Answer 1

Description	Currency	Amount
Sale Value	$	20,000
Less: Commission Paid	$	-2,400
Amount Realized	$	17,600
Description	Currency	Amount
Sale Value	$	20,000
Less: Commission Paid	$	-2,400
Less: Cost of acquisition	$	-10,000
Realized Gain	$	7,600