An investor buys 500 shares of stock on Jan. 2, 2013 for $35,000. On November 1, 2013 the investor buys an additional 500 shares for $25,000. On November 28, the investor sells 500 shares for $27,000. The investor identifies the shares purchased on Jan. 2 as those sold. What is the amount of the gain/loss on the transaction? Is the loss currently deductible? On December 31, 2013 what is the basis of the stock acquired on November 1? What is the holding period of the stock acquired on Nov.1 on December 31? How did you determine the basis of the shares?