John Reardon purchased 100 shares of Tomco Corporation in December 2019 at a total cost of $1,762. He held the shares for 12 months and then sold them, netting $2,500. During the period he held the stock, the company paid him $3 per share in cash dividends. How much, if any, was the capital gain realized upon the sale of stock? Calculate John’s pretax HPR

John Reardon purchased 100 shares of Tomco Corporation in December 2019 at a total cost of $1,762. He held the shares for 12 months and then sold them, netting $2,500. During the period he held the stock, the company paid him $3 per share in cash dividends. How much, if any, was the capital gain realized upon the sale of stock? Calculate John’s pretax HPR

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter20: Corporations And Parterships

Section: Chapter Questions

Problem 53P

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