Solved

This Year,Lauren Sold Several Shares of Stock Held for Investment

Question 125

Multiple Choice

This year,Lauren sold several shares of stock held for investment.The following is a summary of her capital transactions for 2019:  Acquired  Sold This Year  Selling Price  Cost 09/25/201912/2019$800$1,00002/15/201907/20192,2001,75C06/25/201408/20193,5002,30012/28/201506/2019750900\begin{array} { | c | c | c | r | } \hline \text { Acquired } & \text { Sold This Year } & \text { Selling Price } & \text { Cost } \\\hline 09 / 25 / 2019 & 12 / 2019 & \$ 800 & \$ 1,000 \\\hline 02 / 15 / 2019 & 07 / 2019 & 2,200 & 1,75 \mathrm { C } \\\hline 06 / 25 / 2014 & 08 / 2019 & 3,500 & 2,300 \\\hline 12 / 28 / 2015 & 06 / 2019 & 750 & 900 \\\hline\end{array} What are the amounts of Lauren's capital gains (losses) for this year?


A)  NLTG  NSTG $1,300$0\begin{array} { | l | l | } \hline \text { NLTG } & \text { NSTG } \\\hline \$ 1,300 & \$ 0 \\\hline\end{array}
B)  NLTG  NSTG $850$450\begin{array} {| l | l | } \hline \text { NLTG } & \text { NSTG } \\\hline \$ 850 & \$ 450 \\\hline\end{array}
C)  NLTG  NSTG $1,050$250\begin{array} {| l | l | } \hline\text { NLTG } & \text { NSTG } \\\hline \$ 1,050 & \$ 250 \\\hline\end{array}
D)  NLTG  NSTG ($1,050) ($250) \begin{array} { | l | l | } \hline \text { NLTG } & \text { NSTG } \\\hline ( \$ 1,050 ) & ( \$ 250 ) \\\hline\end{array}

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions