Tax Rate Bracket Assignment

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Tax Rate Bracket Assignment

Tax Rate Bracket Assignment Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years: Date Purchased Shares Basis 7/10/2008 530 $ 22,790 4/20/2009 430 20,984 1/29/2010 630 23,058 11/02/2012 380 16,036 If Dahlia sells 1,190 shares of Microsoft for $74,970 on December 20, 2018, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.) a. She uses the FIFO method. b. She uses the specific identification method and she wants to minimize her current year capital gain.Get Accounting homework help today

Tax Rate Bracket Assignment

Dahlia is in the 32 percent tax rate bracket and has purchased the following shares of Microsoft common stock over the years:

Date Purchased Shares Basis
7/10/2008 530 $ 22,790
4/20/2009 430 20,984
1/29/2010 630 23,058
11/02/2012 380 16,036

Tax Rate Bracket AssignmentIf Dahlia sells 1,190 shares of Microsoft for $74,970 on December 20, 2018, what is her capital gain or loss in each of the following assumptions? (Do not round intermediate calculations.)
a. She uses the FIFO method.
b. She uses the specific identification method and she wants to minimize her current year capital gain.Get Accounting homework help today