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Kim owns 10 shares of Tower, Inc. with a basis of $40 per share. ...

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Accounting

Kim owns 10 shares of Tower, Inc. with a basis of $40 per share.

On December 5 of year 1, she acquires 10 more shares of Tower, Inc. for $30 a share.

On December 31 of year 1, she sells her original 10 shares for $30 a share.

What loss does Kim recognize on the sale?

What is the basis in Kims remaining 10 shares of Tower, Inc.?

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