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What is the deductible loss of year four

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Question - Three years ago, Adrian purchased 100 shares of stock in X Corp. for $10,000. On December 30 of year 4, Adrian sells the 100 shares for $6,000.

Assuming Adrian has no other capital gains or losses, except that on January 20 of year 5, Adrian purchases 100 shares of X Corp. stock for $6,000. 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 stock purchased on January 20 of year 5?

Required -

What is the deductible loss of year 4?

What is the tax basis of year 5?

Reference no: EM133101823

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