Sue has 5,000 shares of Sony stock that have an adjusted basis of $27,500. She sold the 5,000 shares of stock for cash of $10,000, and she also received a piece of land as part of the proceeds. The land was valued at $20,000 and had an adjusted basis to the buyer of $12,000. What is Sue's gain or loss on the sale of 5,000 shares of Sony stock?

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Business

Megan Wilkins

28 December, 01:47

Sue has 5,000 shares of Sony stock that have an adjusted basis of $27,500. She sold the 5,000 shares of stock for cash of $10,000, and she also received a piece of land as part of the proceeds. The land was valued at $20,000 and had an adjusted basis to the buyer of $12,000. What is Sue's gain or loss on the sale of 5,000 shares of Sony stock?

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Alana Vang · Answer 1

Sue gained $ 2500 on the sales of 5000 shares of sony stock.

Explanation:

amount on sales of shares = $ 10000 + $ 20000

= $ 30000

amount adjusted basis on shares = $ 27500

gain or loss on the sales of shares = amount on sales of shares - amound adjusted basis on shares

= $ 30000 - $ 27500

= $ 2500

Therefore, Sue gained $ 2500 on the sales of 5000 shares of sony stock.