Mr. and Mrs. Johnson sold 1000 shares of LPK Corp. stock, with a cost basis of $27

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Mr. and Mrs. Johnson sold 1000 shares of LPK Corp. stock, with a cost basis of $27 per share for $20 per share. The shares had been held for 4 years after purchase date. How much of the loss can the couple claim for the year, ignoring any other potential transactions?

A.None

B.$2,700

C.$3,000

D.$6,000

E.$7,000

Posted Date: May 20, 2024 01:05 AM

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Mr. and Mrs. Johnson sold 1000 shares of LPK Corp. stock, with a cost basis of $27

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