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In November, Year 4, Tammy sold 1,000 shares of ABC Corp. stock for $20,000. She had purchased that stock in Year 1 for $34,000. Tammy
In November, Year 4, Tammy sold 1,000 shares of ABC Corp. stock for $20,000. She had purchased that stock in Year 1 for $34,000. Tammy purchased another 1,000 shares of ABC for $22,000 exactly two weeks after she sold the first 1,000 shares. In Year 6 Tammy decided that she no longer wanted ABC stock as part of her portfolio and so sold all 1,000 shares for $26,000. State the amount of Tammys gain or loss on the Year 6 sale.
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