Christina, who is single, purchased 300 shares of Apple Inc. stock several years ago for...
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Accounting
Christina, who is single, purchased 300 shares of Apple Inc. stock several years ago for $15,600. During her year-end tax planning, she decided to sell 150 shares of Apple for $7,050 on December 30. However, two weeks later, Apple introduced its latest iPhone, and she decided that she should buy the 150 shares (cost of $7,350) of Apple back before prices skyrocket. Leave no answers blank. Enter zero if applicable.)
b. Assume the same facts, except that Christina repurchased only 75 shares for $3,675. What is Christinas deductible loss on the sale of 150 shares? What is her basis in the 75 new shares?
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