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What are all the tax consequences of the transactions

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Reference no: EM132906520

Franklin  owns 700 shares of Mint Inc. They have an adjusted cost base of $20 per share. On June 15, 2020, he sells all of these shares at $12 per share. On June 21, 2020, he regrets his decision and reacquires 400 shares of mint Inc. at a cost of $12 per share and is still holding the shares at the end of the year.

Problem 1: What are all the tax consequences of these transactions for both the old and new shares?

Reference no: EM132906520

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