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Crystal owns 183 shares of Carson, Inc., stock that has an adjusted basis of $136,335. On December 18, 2017, she sells the 183 shares for
Crystal owns 183 shares of Carson, Inc., stock that has an adjusted basis of $136,335. On December 18, 2017, she sells the 183 shares for FMV ($127185). On January 7, 2018, she purchases 244 shares of Carson stock for $191,540. (If no gain or loss is recognized, select "No gain/loss") a. What are Crystal's realized and recognized gain or loss on the sale of the 183 shares sold on December 18, 2017? b. What is Crystal's adjusted basis for the 244 shares purchased on January 7, 2018? C.How would your answers in (a) and (b) change if she purchased only 122 shares for $103,090 in January? (Do not round intermediate computations.) a. Realized loss No gain/loss b. Adjusted basis of shares C. Realized loss ecognized loss Adjusted basis of shares
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