Problem $1-10$

Three years ago, Sarah purchased $250$ shares of stock in Y Corporation for $$18,500.$ On October $15$ of year $4,$ Sarah sells the $250$ shares for $$21,800.$

Part$-$a

a$.$ What is Sarah's capital gain or loss from the sale on October $15$ of year $4?$

Part$-$b

b$.$ Assuming Sarah has no other capital gains or losses, except that on January $5$ of year $5,$ Sarah purchases $250$ shares of Y Corporation stock for $$20,200.$ How much gain or loss from the sale on October $15$ of year $4$ is taxable on Sarah's year $4$ tax return? What basis does Sarah take in the stock purchased on January $5$ of year $5?$

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