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6. Karen purchased 100 shares of Gold Corporation stock for $14,000 on January 2, 2019. On March 30, 2019, she sells 25 shares of the

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6. Karen purchased 100 shares of Gold Corporation stock for $14,000 on January 2, 2019. On March 30, 2019, she sells 25 shares of the 100 shares purchased on January 2, 2019, for $2,500. 20 days later Karen purchased 25 shares of Gold Corporation stock for $2,100. What is Karen's recognized gain or loss on the sale of the stock (on March 30), and what is her basis in the 25 shares purchased 20 days later? a. $1,000 recognized loss, $2,100 basis in new stock. b. $0 recognized loss, $2,100 basis in new stock, c. $0 recognized loss, $3,000 basis in new stock. d. $0 recognized loss, $3,100 basis in new stock. e. None of a-d is correct. 7. Josie, an unmarried taxpayer, has $155,000 in salary, $10,000 in income from a limited partnership, and a $26,000 passive activity loss from a real estate rental activity in which she actively participates. If her modified adjusted gross income is $155,000, how much of the $26,000 loss is deductible? a. $0 b. $10,000 c. $25,000 d. $26,000 e. None of these

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