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Mr. and Mrs. Smith purchased 110 shares of stock for $43 per share on June...

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Accounting

Mr. and Mrs. Smith purchased 110 shares of stock for $43 per share on June 30, 20X6. On March 30, 20X8, the Smith family decides to sell these shares for $28 generating a loss of $15 per share. On April 15, 20X8, the Smith family realized they made a mistake and repurchased 110 shares for $37 per share. When will the Smith family receive a tax benefit for the loss on the March 30, 20X8 sale?

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