Evaluate what is tax effect fir brian

Reference no: EM1374736

Brian Bradley, a schedule year taxpayer, purchased 1,000 shares of Newton Corp. On 23rd October, 2011, for $15,000. He sold these shares on January,20,2012, for $7,000. On each of the 4 days from January 24 through January 27, 2012, Brian purchased 500 shares of significantly identical stock for $3,000. Evaluate what is tax effect fir Brian and what will be basis of each of four batches of new stock?

Reference no: EM1374736

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