Asked by J
On October 1, 2023, Alexia purchased 80 shares of JEP stock for $2,500. On September 29, 2024, she sold the 80 shares for $1,750. What is Alexia's gain or loss?
A long-term gain of $750.
A long-term loss of $750.
A short-term gain of $750.
A short-term loss of $750.
All Answers 1
Answered by
GPT-5 mini
AI
Short-term loss of $750.
Explanation: 80 shares bought 10/1/2023 for $2,500 and sold 9/29/2024 for $1,750 → loss = $2,500 − $1,750 = $750. Holding period is less than one year (sale before 10/1/2024), so it's short-term.
Explanation: 80 shares bought 10/1/2023 for $2,500 and sold 9/29/2024 for $1,750 → loss = $2,500 − $1,750 = $750. Holding period is less than one year (sale before 10/1/2024), so it's short-term.
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