Tonya Purchased 500 Shares of Home Depot,Inc

question 76

Multiple Choice

Tonya purchased 500 shares of Home Depot,Inc.common stock on December 13,2010,at a cost of $3,600.She paid a commission of $150 on the purchase.On February 18,2012,she received 250 shares of Home Depot,Inc.common stock as a tax-free dividend.Tonya sells 600 shares for $3,700 on January 8,2013,and pays a $100 commission on the sale.Tonya's gain (loss) on the sale is characterized as:

• A)Long-term capital gain of $600.
• B)Long-term capital gain of $500; short-term capital gain of $100.
• C)Long-term capital loss of $50.
• D)Short-term capital gain of $600.

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