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Problem: 7 - 5 1 ( Algo ) Adrian bought 3 9 0 shares of X Corporation for $ 5 0 , 3 1 0

Problem: 7-51(Algo)
Adrian bought 390 shares of X Corporation for $50,310 three years ago. He sells all shares on December 30 of year 4 for $41,730.
a. How much loss did Adrian incur from the sale on December 30 of year 4?
b. Assuming Adrian has no other capital gains or losses, except that on January 20 of year 5, Adrian purchases 390 shares of X Corporation stock for $41,730. How much loss from the sale on December 30 of year 4 is deductible on Adrian's year 4 tax return? What basis does Adrian take in the stock purchased on January 20 of year 5?
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