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Identify the tax issue or issues suggested by the following situations, and state each issue in the form of a question. On May 19, WJ

Identify the tax issue or issues suggested by the following situations, and state each issue in the form of a question. On May 19, WJ realized a $48,000 loss on the sale of 10,000 shares of voting common stock in XZY Corporation. On May 30, WJ purchased 3,200 shares of XZY nonvoting preferred stock.

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