Question: Doris and Lydia are sisters and also are equal partners in the capital and profits of Agee & Nolan. The following information pertains to 300

Doris and Lydia are sisters and also are equal partners in the capital and profits of Agee & Nolan. The following information pertains to 300 shares of Mast Corp. stock sold by Lydia to Agee & Nolan.

Year of purchase 2003 Year of sale 2010 Basis (cost) $9,000 Sales price (equal to fair market value) $4,000 The amount of long-term capital loss that Lydia recognized in 2010 on the sale of this stock was

a. $5,000

b. $3,000

c. $2,500

d. $0

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