Kevin Bought 200 Shares of Intel Stock on January 1,2018

question 66

Multiple Choice

Kevin bought 200 shares of Intel stock on January 1,2018 for $50 per share with a brokerage fee of $100.Then,Kevin sells all 200 shares for $75 per share on December 12,2018.The brokerage fee on the sale was $150.What is the amount of the gain/loss Kevin must report on his 2018 tax return?

• A)$4,500
• B)$4,750
• C)$5,000
• D)$5,250
• E)None of the choices are correct

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Definitions:

Total Revenue

The total amount of money received by a company from sales of goods or services, before any expenses are subtracted.

Elastic

Describes a situation where the demand or supply for a good or service significantly changes in response to a change in price.

Total Revenue

The aggregate earning of a company from its operational activities, an indicator of its market success.

North American Free Trade Agreement

A trade agreement between Canada, Mexico, and the United States to remove tariffs and facilitate commerce.