Christina, who is single, purchased 120 shares of Apple Incorporated (Nasdaq: AAPL) stock several years...
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Christina, who is single, purchased shares of Apple Incorporated Nasdaq: AAPL stock several years ago for $ During her yearend tax planning, she decided to sell shares of Apple for $ on December However, two weeks later, Apple introduced its latest iPhone, and she decided that she should buy the shares cost of $ of Apple back before prices skyrocket.
Note: Leave no answers blank. Enter zero if applicable.
a What is Christina's deductible loss on the sale of shares? What is her basis in the new shares?
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