Phil and Susan Hammond are married taxpayers filing a joint return. The couple have two dependent children. Susan Hammond has wages of $34,000 in 2019.

Phil and Susan Hammond are married taxpayers filing a joint return. The couple have two dependent children. Susan Hammond has wages of $34,000 in 2019. Phil does not work due to a disability, but he is a buyer and seller of stocks. He generally buys and holds for long-term gain but occasionally gets in and out of a stock quickly. The couple’s 2019 stock transactions are detailed below. In addition, they have $2,300 of qualifying dividends. Transcribed Image Text: Date
Item
Acquired
Date Sold
Cost
Sales Price
Blue stock (10 shares)
11/10/18
03/12/19
$3,000
$6,000
Purple stock (100 shares) 12/13/17
05/23/19
36,000
32,000
Beige stock (50 shares)
12/14/14
07/14/19
13,000
14,500
Red stock (100 shares)
06/29/18
05/18/19
26,000
27,000
Black stock (100 shares)
05/15/18
10/18/19
67,000
67,800
Gray stock (100 shares)
04/12/17
10/18/19
89,000
88,200 Transcribed Image Text: 100 shares of Purple
12/13/17
05/23/19
32,000 V
36,000
-4,000 X
Company
50 shares of Beige Company
12/14/14
07/14/19
14,500
13,000
1,500
100 shares of Black Company
05/15/18
10/18/19
67,800
66,000 X
1,800 x
100 shares of Gray Company
04/12/17
10/18/19
88,200 V
89,000
-800
2 Totals. Add the amounts in columns (d), (e), (g), and (h)
(subtract negative amounts). Enter each total here and
include on your Schedule D, line 8b (if Box D above is
checked), line 9 (if Box E above is checked), or line 10 (if
Box F above is checked) ►
202,500
202,500 X
202,500 X
Note: If
you checked Box D above but the basis reported to the IRS was incorrect, enter in column (e) the basis as reported to the IRS, and

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