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Crystal owns 204 shares of Carson Incorporated stock that has an adjusted basis of $144,840. On December 18, 2020, she sells the 204 shares
Crystal owns 204 shares of Carson Incorporated stock that has an adjusted basis of $144,840. On December 18, 2020, she sells the 204 shares for FMV ($130,560). On January 7, 2021, she purchases 272 shares of Carson stock for $202,096. Required: a. What are Crystal's realized and recognized gain or loss on the sale of the 204 shares sold on December 18, 2020? b. What is Crystal's adjusted basis for the 272 shares purchased on January 7, 2021? c. How would your answers in parts (a) and (b) change if she purchased only 136 shares for $105,400 in January? (Do not round Intermediate computations.) For all requirements, if no gain or loss is recognized, select "No gain/loss") a No gain/loss Realized lass b. Adjusted basis of shares Recognized loss Realized loss Adjusted basis of shares Ampunt $
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