Exercise 14-25 (Algorlthmic) (LO. 4) Juan owned 400 shares of Circle Corporation stock (adjusted basis...
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Exercise 14-25 (Algorlthmic) (LO. 4) Juan owned 400 shares of Circle Corporation stock (adjusted basis of $136,000). He sold 200 shares for $54,400. Twenty days later he purchased 200 shares of the same stock for $40,800. What is Juan's realized and recognized loss? If an amount is zero, enter "O". What is his basis in the newly acquired shares? Juan has a realized loss of $ of which is recognized. His basis in the newly acquired stock is eBook Exercise 14-27 (Algorithmic) (LO. 4) Peyton sells an office building and the associated land on May 1 of the current year. Under the terms of the sales contract, Peyton is to receive $2,063,000 in cash. The purchaser is to assume Peyton's mortgage of $1,237,800 on the property. To enable the purchaser to obtain adequate financing, Peyton is to pay the $24,756 in points charged by the lender. The broker's commission on the sale is $82,520. What is Peyton's amount realized? The amount realized by Peyton is
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