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:
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