Problem

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LO

$7$

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The following information applies to the questions displayed below.

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$$Three years ago, Adrian purchased

$3$

$9$

$0$

$$shares of stock in X Corporation for $

$5$

$0$

$,$

$3$

$1$

$0$

$.$

$$On December

$3$

$0$

$$of year

$4$

$,$

$$Adrian sells the

$3$

$9$

$0$

$$shares for $

$4$

$1$

$,$

$7$

$3$

$0$

$.$

$$Note: Leave no answers blank. Enter zero if applicable. Loss amounts should be indicated with a minus sign. Problem

$7$

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$5$

$1$

$$Part

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b

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$$b

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$$Assuming Adrian has no other capital gains or losses, except that on January

$2$

$0$

$$of year

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$,$

$$Adrian purchases

$3$

$9$

$0$

$$shares of X Corporation stock for $

$4$

$1$

$,$

$7$

$3$

$0$

$.$

$$How much loss from the sale on December

$3$

$0$

$$of year

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$$is deductible on Adrian's year

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$$tax return? What basis does Adrian take in the stock purchased on January

$2$

$0$

$$of year

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