What is harold''s recognized gain or loss on the sale

Reference no: EM13189831

Harold Haas owns 100 shares of Spartan Corp. common stock with an adjusted basis of $10,000. On July 28, 2011, he sold all 100 shares for $9,000. On August 18, 2011, he purchased 80 shares of Spartan common stock for $7,500 and 20 shares of Spartan preferred stock for $3,000. What is Harold's recognized gain or loss on the sale and what is his basis per share in the new stock?

Reference no: EM13189831

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