Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $5,000 on January 15, 2013. On December 31, 2015 she sold all 1,000 shares of her Ibis stock for $4,500. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2016 for $3,000. What is Ms. Fresh's recognized loss on her 2015 sale and what is her basis in her 1,000 shares purchased in 2016?

a. $-0- LTCL and $3,500 basis
b. $200 LTCL and $3,300 basis
c. $300 LTCL and $3,200 basis
d. $400 LTCL and $3,100 basis
e. $500 LTCL and $3,000 basis

Answer rating: 100% (QA)

0 LTCL and 3500 basis If shares are bought back within 30days from the ... View the full answer