1. Emma owns and operates Conway Camera. One night someone breaks into the store and steals cameras that cost $2,200. The retail price of the cameras is $3,500.
2. Mike's Pizza decides to replace one of its delivery vehicles. The vehicle has a basis of $2,700 and Mike's is able to sell it for $2,100.
3. Zoriana sells stock that she acquired in 2006 for $7,500. Her basis in the stock is $14,000. She has a $2,000 long-term capital loss carryover from 2009.
4. Alphonse sells stock with a basis of $5,500 to his brother, Conner, for $4,000. His brother sells it later in the year for $5,100.
5. On January 1, 2010, Brenda acquires 200 shares of Disney stock for $8,000. She sells the 200 shares on September 2, 2010, for $30 per share. On September 23, 2010, Brenda acquires 400 shares of Disney stock for $10,400.