Ms Fresh Bought 1,000 Shares of Ibis Corporation Stock for $6,900

question 58

Multiple Choice

Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $6,900 on January 15, 2018. On December 31, 2020, she sold all 1,000 shares of her Ibis stock for $5,450. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2021, for $3,475. What is Ms. Fresh's recognized loss on her 2020 sale, and what is her basis in her 1,000 shares purchased in 2021?

• A)$0 LTCL and $4,925 basis.
• B)$580 LTCL and $4,345 basis.
• C)$870 LTCL and $4,055 basis.
• D)$1,160 LTCL and $3,765 basis.
• E)$1,450 LTCL and $3,475 basis.

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Definitions:

Struct Date

Struct Date typically refers to a custom data structure in C programming used to store date information, including day, month, and year as fields.

Definition Statement

A type of statement in programming languages where the structure, type, or nature of a variable, function, or object is defined.

Struct Date

A user-defined data structure in programming that typically stores date information, such as day, month, and year.

Month

In programming, "Month" can refer to a variable or function used to represent or manipulate months in dates and calendars.