question archive John bought 1,500 shares of Intel stock on October 18, 2015, for $40 per share plus a $750 commission he paid to his broker
John bought 1,500 shares of Intel stock on October 18, 2015, for $40 per share plus a $750 commission he paid to his broker
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John bought 1,500 shares of Intel stock on October 18, 2015, for $40 per share plus a $750 commission he paid to his broker. On December 12, 2019, he sells the shares for $57.50 per share. He also incurs a $1,000 fee for this transaction.
a. What is John's adjusted basis in the 1,500 shares of Intel stock?
b. What amount does John realize when he sells the 1,500 shares?
c-1. What is the gain/loss for John on the sale of his Intel stock?
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