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How much loss from the sale on december of year

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Three years ago, Adrian purchased 450 shares of stock in X Corp. for $89,550. On December 30 of year 4, Adrian sells the 450 shares for $85,950.

Problem 1: Assuming Adrian has no other capital gains or losses, except that on January 20 of year 5, Adrian purchases 450 shares of X Corp. stock for $85,950. How much loss from the sale on December 30 of year 4 is deductible on Adrian's year 4 tax return? What basis does Adrian take in the stock purchased on January 20 of year 5?

Reference no: EM132962515

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