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how much money

Good Lord :argue:...God Help Us!!!

Can you please clarify...

Was either the buyer or the seller by the name of Elon Musk?

Was the timing of the sale and purchase in which economy? Bidenomics or Maganomics?
 
The original question was, how much did he make on the buying and selling of the goat.
It doesn't matter how much money in total that he had to begin with.

1st transaction: Bought goat for $60 sold it for $70 = $10 profit

2nd transaction: Bought goat for $80 sold it for $90 = $10 profit

After the 2 transactions, he made a profit of $20
+$2.50 Final Answer...without transaction cost between the seller and buying agent taking a commission. Assuming you 1099 those bastards (agents)
  1. -$60: He bought a Goat for $60. So that's an investment in the farm. So he took a farm tax deduction as an investment
  2. +$70: The sale price
  3. -$3.60 as he sold it for $10 profit, he has to:
    • -$3 for capital gain tax
    • -$0.60 for backing out 10% reduction for ordinary expense for upkeep of the animal and depreciated the lifespan of the investment (farm animal)
  4. -$80: He bought the Goat back for $80. Another investment in the farm (see item 1)
  5. -$10: Mark to market recognition of overpaying for an asset/investment that has a resale value of only $70. So he has to reconize the loss on his books
  6. +90: The sale price
  7. -$3.90 as he sold it for $10 profit, he has to:
    • -$3 for capital gains tax
    • -$0.90 for backing out 10% reduction for ordinary expense for upkeep of the animal and depreciated the lifespan of the investment (farm animal)
 
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