Mimi sells 50 shares of Marie Corp common stock on June 23 for $1,000 that results in
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Question:
Mimi sells 50 shares of Marie Corp common stock on June 23 for $1,000 that results in a $700 capital loss. On July 23, Mimi purchases 100 shares of Marie Corp common stock for $2,000. What IRC subsection discusses how to determine the basis of the repurchased shares of Marie Corp stock? Explain how to determine the basis of repurchased shares of Marie Corp.
Related Book For
Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
ISBN: 9780135919460
34th Edition
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
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