Crystal owns 159 shares of Carson Incorporated stock that has an adjusted basis of $124,815....
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Crystal owns 159 shares of Carson Incorporated stock that has an adjusted basis of $124,815. On December 18,2021 , she sells the 159 shares for FMV ($110,505). On January 7,2022 , she purchases 212 shares of Carson stock for $176,596. Required: a. What are Crystal's realized and recognized gain or loss on the sale of the 159 shares sold on December 18,2021 ? b. What is Crystal's adjusted basis for the shares purchased on January 7,2022 ? c. How would your answers in parts (a) and (b) change if she purchased only 106 shares for $98,050 in January? Note: Do not round intermediate computations. Note: For all requirements, if no gain or loss is recognized, select "No gain or loss". Crystal owns 159 shares of Carson Incorporated stock that has an adjusted basis of $124,815. On December 18,2021 , she sells the 159 shares for FMV ($110,505). On January 7,2022 , she purchases 212 shares of Carson stock for $176,596. Required: a. What are Crystal's realized and recognized gain or loss on the sale of the 159 shares sold on December 18,2021 ? b. What is Crystal's adjusted basis for the shares purchased on January 7,2022 ? c. How would your answers in parts (a) and (b) change if she purchased only 106 shares for $98,050 in January? Note: Do not round intermediate computations. Note: For all requirements, if no gain or loss is recognized, select "No gain or loss
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