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Wash sales On March 10, year 5, James Rogers sold 300 shares of Red Company common stock for $4,200. Rogers acquired the stock in year
Wash sales
On March 10, year 5, James Rogers sold 300 shares of Red Company common stock for $4,200. Rogers acquired the stock in year 1 at a cost of $5,000. On April 4, year 5, he repurchased 300 shares of Red Company common stock for $3,600 and held them until July 18, year 5, when he sold them for $6,000. What is the amount of gain or loss that Rogers should report for the July 18 sale?
Income Tax
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