Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $6,600 on January 15, 2018....
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Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $6,600 on January 15, 2018. On December 31, 2020, she sold all 1,000 shares of her Ibis stock for $5,300. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2021, for $3,400. What is Ms. Fresh's recognized loss on her 2020 sale, and what is her basis in her 1,000 shares purchased in 2021?
A) $0 LTCL and $4,700 basis.
B) $520 LTCL and $4,180 basis.
C) $780 LTCL and $3,920 basis.
D) $1,040 LTCL and $3,660 basis.
E) $1,300 LTCL and $3,400 basis.
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