David deduct on the sale of the adidas stock

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Reference no: EM131836430

In 2016, David Beckham sold Adidas stock (adjusted basis of $200,000) to his sister, Joanne, for $150,000, the fair market value of the stock. David realized a loss of $50,000 on the sale ($150,000AR -$200,000AB = -$50,000). What amount may David deduct on the sale of the Adidas stock? Note: make sure you understand what happens to any disallowed loss.

Reference no: EM131836430

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