Investment Related Losses (LO. 10) Darlene owns 500 shares of Sanomayor, in common stock that she purchased several years ago for $20,500. During the current year, the Sandmayor stock declines in v a riere decides to sell the to the tax on December 17, she the 500 shares for $12.000 Merve n t adviseren her she thinks the Sandmayor pro will be to increase ale next year. On this advice, Darlene purchases 600 shares of Sandmayor common stock on January 10 of the next year for $15,000. The adviser turns out to be right-Darlene sets the 600 shares in May for $22.000 Complete the bulleted statements below that explain the tax effect of the sales on Darlene's taxable income in each year. Do not round Intermediate per share amounts, but round final answers to the nearest dollar The December 17 sale results in a realized loss of However, the loss cannot be recognized as it is considered a wash sale because the shares were repurchased within 30 days The disallowed loss is added to the basis of the shares purchased on January 10, making the total basis of these shares The sale in May of 600 shares results in as long term loss and a short term of