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Harold Hass owns 100 shares of Spartan Corp. common stock with an adjusted basis of $10090. On July 28, 2021, he sold all 100 shares
Harold Hass owns 100 shares of Spartan Corp. common stock with an adjusted basis of $10090. On July 28, 2021, he sold all 100 shares for $9000. On August 18, 2021, he purchased 80 shares of Spartan common stock for $7680 and 20 shares of Spartan preferred stock for $3730. What is his basis in the 80 shares of Spartan common stock? [For your answer, please use whole number (no need to round) and ignore the dollar sign and the comma. Please enter a positive number for gain and a negative number for loss.] Answer: Harold Hass owns 100 shares of Spartan Corp. common stock with an adjusted basis of $10120. On July 28, 2021, he sold all 100 shares for $9010. On August 18, 2021, he purchased 80 shares of Spartan common stock for $7568 and 20 shares of Spartan preferred stock for $3990. What is his basis in the 20 shares of Spartan preferred stock? [For your answer, please use whole number (no need to round) and ignore the dollar sign and the comma. Please enter a positive number for gain and a negative number for loss.]
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