Ms. Plant decided to purchase shares in Schvantz Ltd., a public company. She purchased 800 shares at

 
   

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Ms. Plant decided to purchase shares in Schvantz Ltd., a public company. She purchased 800 shares at $25 per share plus brokerage of $690 on May 24, 1998. The following additional transactions took place: June 30, 1999 – Purchased 500 shares of Shtupp Metals Ltd., a public company, at $35 plus brokerage of $600. Aug. 20, 1999 -Purchased 1,100 additional shares of Schvantz Ltd. At $30 plus brokerage of $940. Aug. 27, 2001 – Sold 900 shares of Schvantz Ltd. at $24.50 per share plus brokerage fee of $760. Sept. 20, 2001 -Purchased 600 additional shares of Schvantz Ltd. at $19.50 plus brokerage of $400. Oct. 31, 2001 – Sold 200 shares of Shtupp Metals Ltd. at $32 per share plus brokerage fee of $220. June 9, 2003 – Sold 250 shares of Schvantz Ltd. at $32 per share plus brokerage fee of $275. May 24, 2005 – Received a 10% stock dividend from Shtupp Metals Ltd. (i.e., 30 shares) of which $20 per share issued was credited to paid-up capital. June 30, 2007 -Sold 150 shares of Shtupp Metals Ltd. at $36.50 per share plus brokerage fee of $165. Aug. 20, 2009 – Received 10% stock dividend from Schvantz Ltd. of which $20 per share issued was credited to paid-up capital. Dec. 28, 2012 – Sold 350 shares of Schvantz Ltd. at $29 per share plus brokerage fee of $355, settlement date January 4, 2013. REQUIRED Calculate the taxable capital gain or allowable capital loss for Ms. Plant from each of the above sales. View Solution:
Ms Plant decided to purchase shares in Schvantz Ltd a