STOCK INVESTMENTS is in the marginal tax bracket and has the following purchases of losing Co. Stock Coster Share Total Cost 3/15/17 1/20/18 10,000 10/15/19 5,000 As of December 27, 2019, the Losing Co. stock is selling for $25 per share. For 2019, Ju's other capital asset sales generated a $2,000 short-term capital gain (STCG). Jill needs $5,000 in cash for car repairs, and therefore intends to sell 200 shares of losing Co stock at its current $25 price (200 x 525 $5.000). From which of the above purchases should she sell it, in order to achieve the greatest to advantage? Explain b. If Jill fails to designate to her broker the specific block of stock from which the sale is made, what is the default treatment? 2. On November 14, 2018, Noel sells 2,000 shares of Marker, Inc., stock for $8,000. He had purchased the stock 2 years earlier for $10,000. Because he believes the price of the stock has bottomed out and may start to rise, Noel purchases additional shares of Marker stock on December 10, 2018. What are the tax effects lie.. amount of deductible loss) of the sale of the stock and the basis in the new shares if Noel- Deductible Loss Total basis in new shares a. Repurchases 2,000 shares for $7,000? b. Repurchases 1,000 shares for $3,500