During 2024, your clients, Mr. and Mrs. Howell, owned the following investment assets:
Investment Assets Date Acquired Purchase Price Broker's Commission Paid at Time of Purchase
300 shares of IBM common (NYSE: IBM) 11/22/2021 $ 10,580 $ 100
200 shares of IBM common (NYSE: IBM) 4/3/2022 43,480 300
3,000 shares of Apple preferred (NASDAQ: AAPL) 12/12/2022 170,000 1,300
2,100 shares of Cisco common (NASDAQ: CSCO) 8/14/2023 54,800 550
420 shares of Vanguard mutual fund 3/2/2024 17,000 No-load fund*
*No commissions are charged when no-load mutual funds are bought and sold.
Because of the downturn in the stock market, Mr. and Mrs. Howell decided to sell most of their stocks and the mutual fund in 2024 and to reinvest in municipal bonds. The following investment assets were sold in 2024:
Investment Assets Date Sold Sale Price Broker's Commission Paid at Time of Sale
300 shares of IBM common 5/6 $ 16,000 $ 100
3,000 shares of Apple preferred 10/5 223,700 2,000
2,100 shares of Cisco common 8/15 63,480 650
451 shares of Vanguard mutual fund 12/21 18,000 No-load fund*
*No commissions are charged when no-load mutual funds are bought and sold.