Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $5,000 on January 15, 2015. On December 31, 2017 she sold all 1,000 shares of her Ibis stock for $4,500. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2018 for $3,000. What is Ms. Fresh's recognized loss on her 2017 sale and what is her basis in her 1,000 shares purchased in 2018?

Multiple Choice

• $-0- LTCL and $3,500 basis.
• $200 LTCL and $3,300 basis.
• $300 LTCL and $3,200 basis.
• $400 LTCL and $3,100 basis.
• $500 LTCL and $3,000 basis.