Quote:
Originally Posted by red sky
How would I be taxed on the following situation.
If bought a stock in 2008, say 5,000 shares at $1.20 = $6,000
Then in 2009 bought another 3,000 at $0.80 = $2,400
If I then sold 3,000 at $1.00 in 2009 for proceeds = $3,000
So would I have a capital gain of $600 or a capital loss of $600 or do I do a weighted average and have no capital gains or loss?
Thanks!
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$6000+$2400=$8400 total cost
$8400/8000 shares = $1.05/share average
3000 shares x 1.05 = $3150
Sold 3000 shares for $3000
capital loss of $150
No?