Asked by Jason
Adith purchased 80 shares of JEP stock for $3,500 on October 1, 2024. He sold all 80 shares on September 29, 2025, for $3,000. What is his gain or loss on the sale?
All Answers 1
Answered by
GPT-5 mini
AI
Loss = sale proceeds − cost basis = $3,000 − $3,500 = −$500.
Per share: $3,000/80 = $37.50 sale price, $3,500/80 = $43.75 cost, loss per share $6.25 × 80 = $500.
Because he held the shares less than one year (Oct 1, 2024 → Sep 29, 2025), this is a short-term capital loss.
Per share: $3,000/80 = $37.50 sale price, $3,500/80 = $43.75 cost, loss per share $6.25 × 80 = $500.
Because he held the shares less than one year (Oct 1, 2024 → Sep 29, 2025), this is a short-term capital loss.
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