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Required information [The following information applies to the questions displayed below.) Three years ago, Adrian purchased 305 shares of stock in X Corp. for $34,465.
Required information [The following information applies to the questions displayed below.) Three years ago, Adrian purchased 305 shares of stock in X Corp. for $34,465. On December 30 of year 4. Adrian sells the 305 shares for $27,450. (Leave no answers blank. Enter zero if applicable. Loss amounts should be indicated with a minus sign.) a. Assuming Adrian has no other capital gains or losses, how much of the loss is Adrian able to deduct on her year 4 tax return? Answer is complete but not entirely correct. Deductible loss S 4,015 b. Assuming Adrian has no other capital gains or losses, except that on January 20 of year 5. Adrian purchases 305 shares of X Corp. stock for $27,450. 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? Deductible loss Basis
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