Murphy Smith has the following stock transactions for 2018.

Name Date Purchased Basis Date Sold Sales Proceeds

Apex Corp. 1/23/1986 7,250 7/22/2018 4,500

Blue Corp. 4/20/2018 14,000 9/13/2018 17,500

Coral Corp. 8/23/2010 10,750 10/12/2018 15,300

Diamond Corp 5/19/2017 5,230 10/12/2018 12,400

Electric Corp. 8/20/2017 7,300 11/14/2018 3,500

Based on the information in the above table, answer the following questions:

  1. What is Murphy’s net short-term capital gain or loss from these transactions?
  2. What is Murphy’s net long-term capital gain or loss from these transactions?
  3. What is Murphy’s net gain or loss from these transactions?
  4. Based on (a) through (c), complete Murphy’s Schedule D using ProConnect Tax software or IRS fillable tax forms.

Clearly identify the requirements discussed in your assignment. Show all calculations within the cells of an Excel spreadsheet to be submitted with the required tax form or schedule. Schedule D may also be submitted as PDF or converted into a Word document. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well. No hard coding of solutions. Submit a single MS Excel file for grading.

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