During the year, Eugene had the four property transactions summarized on the next page. Eugene is a collector of antique glassware and occasionally sells a piece to get funds to buy another. What are the amount and nature of the gain or loss from each of these transactions?
|
Property |
Date Acquired |
Date Sold |
Adjusted Basis |
Sales Price |
|
Antique vase |
06/18/01 |
05/23/12 |
$37,000 |
$22,000 |
|
Blue Growth Fund |
12/23/03 |
11/22/12 |
22,000 |
38,000 |
|
(100 shares) |
||||
|
Orange bonds |
02/12/04 |
04/11/12 |
34,000 |
42,000* |
|
Green stock |
02/14/12 |
11/23/12 |
13,000 |
11,000 |
|
(100 shares) |
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