Required information

Skip to question

$[$The following information applies to the questions displayed below.$]$

Christina, who is single, purchased $500$ shares of Apple Incorporated $($Nasdaq: AAPL$)$ stock several years ago for $$21,000.$ During her year$-$end tax planning, she decided to sell $250$ shares of Apple for $$9,250$ on December $30.$ However, two weeks later, Apple introduced its latest iPhone, and she decided that she should buy the $250$ shares $($cost of $$9,750)$ of Apple back before prices skyrocket.

Note: Leave no answers blank. Enter zero if applicable.

b$.$ Assume the same facts, except that Christina repurchased only $125$ shares for $$4,875.$ What is Christina's deductible loss on the sale of $250$ shares? What is her basis in the $125$ new shares?