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Please help me solve! Josh Nassau owns 2,000 shares of Gray Fox Corporation common stock. Josh purchased the 2,000 shares on April 17, 2011, for
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Josh Nassau owns 2,000 shares of Gray Fox Corporation common stock. Josh purchased the 2,000 shares on April 17, 2011, for $44,000. On December 8, 2019, Josh sells 1,200 shares for $17,640. On January 2, 2020, Josh buys 360 shares of Gray Fox Corporation common stock for $5,400 and 125 shares of Gray Fox Corporation preferred stock for $4,000. The preferred stock is nonvoting, nonconvertible. a. What is Josh's realized and recognized loss on the December 8 sale of stock? b. What is his basis and the holding periods of the shares purchased in 2011 and in 2020Step by Step Solution
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