Question
Three years ago, Adrian Purchased 215 shares of stock in X Corp. for $38,485. On December 30 of year 4, Adrian sells the 215 shares
Three years ago, Adrian Purchased 215 shares of stock in X Corp. for $38,485. On December 30 of year 4, Adrian sells the 215 shares for $33,325. (leave no answer 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 215 shares of X Corp. stock for $33,325. 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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