Question
Pat, an individual calendar-year taxpayer, purchased 1000 shares od R Corporation common stock for $17,000 on 5-13-x1. She purchased an additional 250 shares of R
Pat, an individual calendar-year taxpayer, purchased 1000 shares od R Corporation common stock for $17,000 on 5-13-x1.
She purchased an additional 250 shares of R corporation common stock for $7,000 on 6-9-x5.
On 6-28-x5, Pat sold the 1000 shares which purchased on 5-13-x1 for $13,000.
Then on 7-16-x5 she purchased an additional 450 shares of R corporation common stock for $9,000
What is the amount of Pat's recognized loss for x5 and what is the basis for her remaining 700 shares of R corporation stock? (The answer been given, how how to calucated to getthe answer)
The recognized loss: 1200
Basis for 6-9-x5 stock: 8000
Basis for 7-16-x5 stock: 10800
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