This Year Ann Has the Following Stock Transactions

question 43

Short Answer

This year Ann has the following stock transactions. What amount is included in her gross income if Ann paid a $200 selling commission for each sale? $\begin{array}{ccccc}&&\text { Total } &&\text { Value} &\\\underline{\text { Shares }} & \underline{\text { Firm }} & \underline{\text { Purchase price }} & \underline{\text { Sales price }} & \underline{\text { at year end }} \\100 & \text { IBM } & \$ 5,000 & & \$ 7,000 \\200 & \text { ATT } & 7,500 & 9,500 & \\500 & \text { Dell } & 12,500 & 13,000 &\end{array}$