Mike Sold the Following Shares of Stock in 2016 What Are the Tax Consequences of These Transactions, Assuming His

question 109

Essay

Mike sold the following shares of stock in 2016:
$$\begin{array} { c c c c c } & \text { Date Purchrred } & \text { Adjusted Bnris } & \text { DateSald } & \text { Sales Prareed } \\ \text { Sorp. } & 7 / 25 / 2010 & \$ 4,600 & 9 / 25 & \$ 9,500 \\ \text { Corp. } & 5 / 17 / 2012 & 1,600 & 6 / 07 & 1,100 \\\text { C Corp. } & 1 / 04 / 2014 & 3,900 & 8 / 25 & 7,500 \\\text { K Corp. } & 11 / 02 / 2015 & 2,500 & 10 / 01 & 1,800\end{array}$$ What are the tax consequences of these transactions, assuming his marginal tax rate is (a) 33% and (b) 39.6%? Ignore the medicare tax on net investment income.

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