Three years ago, Adrian purchased 275 shares of stock in X Corp. for $34,100. On December 30 of year 4, Adrian sells the 275 shares for $25,850.

b. Assume the same facts as in part (a), except that on January 20 of year 5, Adrian purchases 505 shares of X Corp. stock for $59,590. How much loss from the sale on December 30 of year 4 is deductible on Adrians year 4 tax return? What basis does Adrian take in the stock purchased on January 20 of year 5?

Deductible loss $0

Basis ?