Answer:
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Step-by-step explanation:
Absolutely, I can help you calculate Kevin's capital gain on the sale of Intel stock.
Here's a breakdown of the transaction:
Purchase
Price per share: $78
Number of shares: 270
Brokerage fee: $170
Sale
Price per share: $89
Number of shares: 270 (all shares purchased were sold)
Brokerage fee: $220
Calculating the gain/loss:
Total purchase cost:
(Price per share * Number of shares) + Brokerage fee
($78/share * 270 shares) + $170 = $21,590
Total sale proceeds:
(Price per share * Number of shares) - Brokerage fee
($89/share * 270 shares) - $220 = $24,330
Gain/loss:
Total sale proceeds - Total purchase cost
$24,330 - $21,590 = $2,740
Answer: Based on the calculations, Kevin earned a capital gain of $2,740 on the sale of Intel stock, which he must report on his 2022 tax return.
