Question

Jan purchased 100 sh stock $12 share on Sept. 10, 2016. Sold stock August 9, 2017...

Jan purchased 100 sh stock $12 share on Sept. 10, 2016. Sold stock August 9, 2017 at $9.00 sh. Repurchase on Sept 26, 2017 for $11.00 sh. What is capital gain or loss?
1. $ 0
2. $100 short/term loss
3. $300 short-term loss
4. $300 long- term loss

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Homework Answers

Answer #1

Purchase time of Share = Sept 10, 2016 at $ 12 per share X 100 Sh = $ 1200

Selling price of the stock = August 09, 2017 at $ 9 per Shares X 100 Sh = $ 900

Gain or Loss on transaction = Selling Price - Purchase Price

Gain or Loss on transaction = $ 900 - $ 1200 = - $ 300 (Loss)

Period of holding is less than one year so this is treated as short term loss o f $ 300

Answer =Option 3 = $ 300 Short -Term Loss

Note: Repurchase the same stock again at $ 11 is different transaction so not taken for capital gain,

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