How much of the loss is adrian able to deduct tax return

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Three years ago, Adrian purchased 250 shares of stock in X Corp. for $22,500. On December 30 of year 4, Adrian sells the 250 shares for $18,750.

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?

Assume the same facts as in part (a), except that on January 20 of year 5, Adrian purchases 250 shares of X Corp. stock for $18,750. How much loss from the sale on December 30 of year 4 is deductible on Adrian's year 4 tax return? What basis does Adrian take in the stock purchased on January 20 of year 5?

Reference no: EM13334161

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