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[The following information applies to the questions displayed below.] Three years ago, Adrian purchased 580 shares of stock in X Corp. for $59,740. On
[The following information applies to the questions displayed below.] Three years ago, Adrian purchased 580 shares of stock in X Corp. for $59,740. On December 30 of year 4, Adrian sells the 580 shares for $53,940. (Leave no answers blank. Enter zero if applicable. Loss amounts should be indicated with a minus sign.) b. Assuming Adrian has no other capital gains or losses, except that on January 20 of year 5, Adrian purchases 580 shares of X Corp. stock for $53,940. 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 $ 0
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