Omar Has the Following Stock Transactions During 2019 A What Is Omar's Recognized Gain or Loss on the Stock

question 31

Essay

Omar has the following stock transactions during 2019: $\begin{array}{lccc}\text { Stock }&\text { Date }&\text { Number of }&\text { Number of }&\text { Basis }&\text { Selling Price }\\&\text { Purchased /Sold }&\text { Shares/Sold }&\text { Shares }\\&&&\text { Purchased }\\\text { Orange } & 1 / 2017 && 100 & \$ 1,000 \\\text { Blue } & 6 / 2017 && 200 & 3,000 \\\text { Yellow } & 4 / 2018 && 50 & 1,250\end{array}$ $\begin{array}{lccccc}\text { Blue } & 2 / 2019 & & 150 & 1,800 & \\\text { Yellow } & 3 / 2019 & & 175 & 5,250 & \\\text { Blue } & 7 / 2019 & 250 & & & \$ 3,500 \\\text { Yellow } & 11 / 2019 & 200 & & & 7,200\end{array}$
a. What is Omar's recognized gain or loss on the stock sales if his objective is to minimize the recognized gain and to maximize the recognized loss?
b. What is Omar's recognized gain or loss if he does not identify the shares sold?

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Definitions:

Demise

The end or failure of an enterprise or institution; often used as a euphemism for death.

Pet

A domestic or tamed animal kept for companionship or pleasure.

Established Careers

Careers that have been developed and solidified over time, often associated with stability and recognition in one's field.

Completed Education

The attainment of the highest level of education an individual has achieved, marked by the completion of a specific course of studies or degree.