Calculate the cost basis of fund shares


Assignment task: Casey had the following investment sales:

A 1099-B from Great Return Mutual Fund for the sale of 100 shares of the fund. Casey had purchased 50 shares on September 21, 2021, for $650; 50 shares on October 1, 2021, for $500; and 50 shares on November 30, 2021, for $800. He sold 100 shares on June 13, 2022, for $700. She uses the average cost method to calculate the cost basis of fund shares.

A 1099-B from XYZ Brokerage Company for $5,500 gross proceeds from the October 21, 2022, sale of 50 shares of Liquid Rhino Marketing. The shares were originally purchased on October 22, 2021, for $2,500.

A 1099-B from ABC Brokerage Company for $2,000 gross proceeds from the November 2, 2022, sale of 60 shares of Crestwood Company. Casey originally inherited the shares from a relative on February 18, 2022. The shares had an FMV of $2,500 on the relative's date of death. The relative originally purchased the shares for $400 in 1994.

PLEASE HELP ME FIGURE OUT FORM 8949 - specifically the Cost or Other Basis and Gain or Loss.

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Accounting Basics: Calculate the cost basis of fund shares
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