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What is the amount of the allowable capital loss

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Reference no: EM132772220

Question - G sold 1,000 shares of Need Ltd. for $8,000 early in the current year. The adjusted cost base of the 1,000 shares sold was $24,000. Two weeks later, the value of Need Ltd. started rising and G purchased 700 shares which he still owns at the end of the year. What is the amount of the allowable capital loss?

Reference no: EM132772220

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