Three years ago, Adrian purchased 370 shares of stock in X Corp. for $46,620. On December 30 of year 4, Adrian sells the 370 shares for $42,920.

a. Assuming Adrian has no other capital gains or losses, how much of the loss is Adrian able to deduct on her year 4 tax return?

Deductible Loss: ___________

b. Assume the same facts as in part (a), except that on January 20 of year 5, Adrian purchases 370 shares of X Corp. stock for $42,920. 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: ____________

Basis:______________