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Amelia purchased 400 shares of BBC common stock several years ago for $1,600. On June 30, Amelia sold the shares of BBC common for $600
Amelia purchased 400 shares of BBC common stock several years ago for $1,600. On June 30, Amelia sold the shares of BBC common for $600 and then purchased 225 shares of BBC preferred stock two days later for $800. The BBC preferred stock is not convertible into BBC common stock. What is Amelias deductible loss from the sale of the 400 shares of BBC common stock?
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