Question

Luana sells Beta Corporation stock with an adjusted basis of $58,000 and a fair market value of $70,000 for $64,000.
Luana has a realized of ________________ $ .

Answer 1

Answer:

Gain of $6,000

Explanation:

Since we were told that Luana sells Beta Corporation stock with an adjusted basis amount of $58,000 and a fair market value of the amount of $70,000 for $64,000 this means we have to less $64,000 from $70,000 which will give us a gain of $6,000

$70,000 -$64,000

=$6,000

This means that Luana has realized a Gain of $6,000