Realized and Recongized Gain or Loss
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On June 4, 2012, Tyler purchased 2,000 shares of Target stock for $20,000.
On October 15, 2012, Tyler sold the 2,000 shares for $14,000. On November 8, 2012, he purchased 1,000 shares of Target stock for $5,000.
What is Tyler's realized and recognized gain or loss on the October 15, 2012 sale and his basis in the stock from
the November 8, 2012 purchase?
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Solution Summary
This solution provides steps to determine realized and recognized gain or loss.
Solution Preview
Realized loss on Oct 15, 2012 = $20,000 - $14,000 = $6,000
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