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Christina, who is single, purchased 220 shares of Apple Incorporated stock several years ago for $12,320. During her year-end tax planning, she decided to
Christina, who is single, purchased 220 shares of Apple Incorporated stock several years ago for $12,320. During her year-end tax planning, she decided to sell 110 shares of Apple for $5,610 on December 30. However, two weeks later, Apple introduced its latest iPhone, and she decided that she should buy the 110 shares (cost of $5,830) of Apple back before prices skyrocket. (Leave no answers blank. Enter zero if applicable.) b. Assume the same facts, except that Christina repurchased only 55 shares for $2,915. What is Christina's deductible loss on the sale of 110 shares? What is her basis in the 55 new shares? Deductible loss Basis
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