Question

Three years ago, Thomas purchased 300 shares of stock in L Corporation for $19,500. On April 10 of year 4, Thomas sells the 300 shares for $18,200. Part-a a. What is Thomas's capital gain or loss from the sale on April 10 of year 4? Part-b b. Assuming Thomas has no other capital gains or losses, except that on February 25 of year 5, Thomas purchases 300 shares of L Corporation stock for $17,800. How much gain or loss from the sale on April 10 of year 4 is taxable on Thomas's year 4 tax return? What basis does Thomas take in the stock purchased on February 25 of year 5? *This question already posted and got correct answer. Don't answer this question If you answer i will give 10 dislikes.**

          Three years ago, Thomas purchased 300 shares of stock in L Corporation for $19,500. On April 10 of year 4, Thomas sells the 300 shares for $18,200.
Part-a
a. What is Thomas's capital gain or loss from the sale on April 10 of year 4?
Part-b
b. Assuming Thomas has no other capital gains or losses, except that on February 25 of year 5, Thomas purchases 300 shares of L Corporation stock for $17,800. How much gain or loss from the sale on April 10 of year 4 is taxable on Thomas's year 4 tax return? What basis does Thomas take in the stock purchased on February 25 of year 5?
***This question already posted and got correct answer. Don't answer this question If you answer i will give 10 dislikes.****

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