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Determine taxpayer tax basis

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Question - Three years ago, Taxpayer acquired 350 shares of XYZ Corporation for $25 per share. On 20 December of year 4, Taxpayer sold the shares for $21 per share. On 5 January of year 5, Taxpayer purchased an additional 350 shares of XYZ Corporation at a cost of $22 per share. Determine Taxpayer's tax basis in the 350 shares of XYZ Corporation stock acquired no 5 January of year 5.

Reference no: EM132989420

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