Reference no: EM133063459
Question - Mr. A is not a dealer in securities. In 2019, he had the following transactions of common shares of stock of Z Co., a domestic corporation:
(1) Purchase on January 5, of 100 shares- P7,000.
(2) Sale of June 18, of the shares purchased on January 5,- 6,000.
(3) Purchase on June 22, of 60 shares- 6,500.
(4) Sale on October 5, of the shares purchased on June 22 - 8,000.
Required -
A. What the loss not recognized on the sale of June 18?
B. What the basis of the shares purchased on June 22, 2019?
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