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Compute the basis of the new shares of ABC stock

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Reference no: EM132161522

Question - On December 2016, David purchased 1000 shares of ABC stock for $100000 ($100 per share). The company ran into trouble and he sold the stock for $2000 ($2 per share) on May 22, 2017. On May 26, 2017, he repurchased 800 shares of ABC stock for $1800( $2.25 per share). Compute the basis of the 800 new shares of ABC stock.

Reference no: EM132161522

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