On December 28,2014,Shelia Sold 300 Shares of Power Inc

question 55

Multiple Choice

On December 28,2014,Shelia sold 300 shares of Power Inc.,(a publicly traded company) at a loss of $5,900.On January 5,2015,Shelia repurchased 300 shares of Power Inc.

• A) The $5,900 loss is disallowed.
• B) The $5,900 loss is only allowed if Shelia has capital gains to offset the loss.
• C) The $5,900 loss is only allowed if Shelia's AGI is less than $100,000.
• D) Only $3,000 of the loss is allowed.

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