QUESTION 3 Edwin bought 100 shares of XYZ Inc. stock for $12,000 and sold it for $4,000 on March 10. He bought 40 shares of XYZ Inc. stock on March March 23 for $1,500. How much loss can he report from the sale on his tax return? Zero. $3,200 $4,800 $8,000 QUESTION 4 Edwin bought 100 shares of XYZ Inc. stock for $12,000 and sold it for $4,000 on March 10. He bought 40 shares of XYZ Inc. stock on March March 23 for $1,500. What will his basis be in the 40 shares he bought on March 23? Zero. $1,500. $4,700. $6,300