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Requiredi Three years ago, Adrian purchased 495 shares of stock in X Corp. for $74,250. On December 30 of year 4, Adrian sells the 495
Requiredi Three years ago, Adrian purchased 495 shares of stock in X Corp. for $74,250. On December 30 of year 4, Adrian sells the 495 shares for $70,290. (Leave no answers blank. Enter zero if applicable.) b. Assume the same facts as in part (a), except that on January 20 of year 5, Adrian purchases 565 shares of X Corp. stock for $75,145. 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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