Problem: $7-51($Algo$)$

Adrian bought $390$ shares of X Corporation for $$50,310$ three years ago. He sells all shares on December $30$ of year $4$ for $$41,730.$

a$.$ What is the loss Adrian incurs from the sale on December $30$ of year $4?$

b$.$ Assuming Adrian has no other capital gains or losses, and he purchases $390$ shares of X Corporation stock for $$41,730$ on January $20$ of year $5,$ how much of the loss from the sale on December $30$ of year $4$ is deductible on Adrian's year $4$ tax return? What is Adrian's basis in the stock purchased on January $20$ of year $5?$

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