Ms. Chantal Montrose makes frequent purchases of the common shares of Comco Inc. During 2019, she purchased 650 shares at $23.50 per share on January 15, and 345 shares at $24.25 per share on March 12. She sold 210 shares on September 15, 2019, at $25.50 per share. On February 14, 2020, she purchases an additional 875 shares at $26.75 per share, and on October 1, 2020, she sells 340 shares at $29.50 per share. Determine Ms. Montrose’s taxable capital gains for 2019 and 2020.
Ms. Chantal Montrose makes frequent purchases of the common shares of Comco Inc. During 2019, she purchased 650 shares at $23.50 per share on January 15, and 345 shares at $24.25 per share on March 12. She sold 210 shares on September 15, 2019, at $25.50 per share. On February 14, 2020, she purchases an additional 875 shares at $26.75 per share, and on October 1, 2020, she sells 340 shares at $29.50 per share. Determine Ms. Montrose’s taxable capital gains for 2019 and 2020.
Chapter7: Losses—deductions And Limitations
Section: Chapter Questions
Problem 63P
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Question
Ms. Chantal Montrose makes frequent purchases of the common shares of Comco Inc. During 2019, she purchased 650 shares at $23.50 per share on January 15, and 345 shares at $24.25 per share on March 12. She sold 210 shares on September 15, 2019, at $25.50 per share. On February 14, 2020, she purchases an additional 875 shares at $26.75 per share, and on October 1, 2020, she sells 340 shares at $29.50 per share. Determine Ms. Montrose’s taxable capital gains for 2019 and 2020.
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