Question
Christina, who is single, purchased 360 shares of Apple Inc. stock several years ago for $17,640. During her year-end tax planning, she decided to sell
Christina, who is single, purchased 360 shares of Apple Inc. stock several years ago for $17,640. During her year-end tax planning, she decided to sell 180 shares of Apple for $7,920 on December 30. However, two weeks later, Apple introduced its latest iPhone, and she decided that she should buy the 180 shares (cost of $8,280) of Apple back before prices skyrocket. Leave no answers blank. Enter zero if applicable.) b. Assume the same facts, except that Christina repurchased only 90 shares for $4,140. What is Christinas deductible loss on the sale of 180 shares? What is her basis in the 90 new shares?
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