Karen Purchased 100 Shares of Gold Corporation Stock for $11,500

question 66

Multiple Choice

Karen purchased 100 shares of Gold Corporation stock for $11,500 on January 1, 2014. In the current tax year (2017) , she sells 25 shares of the 100 shares purchased on January 1, 2014, for $2,500. Twenty-five days earlier, she had purchased 30 shares for $3,000. What is Karen's recognized gain or loss on the sale of the stock, and what is her basis in the 30 shares purchased 25 days earlier?

• A)$375 recognized loss, $3,000 basis in new stock.
• B)$0 recognized loss, $3,000 basis in new stock.
• C)$0 recognized loss, $3,375 basis in new stock.
• D)$0 recognized loss, $3,450 basis in new stock.
• E)None of the above.

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Definitions:

Structural Isomers

Molecules that have the same molecular formula but differ in the connectivity of their atoms.

Isomers

Compounds with the same molecular formula but different structures or spatial arrangements of atoms.

Newman Projection

A method of drawing a molecule to visualize the conformational relationship between different atoms or groups in terms of their spatial orientation, usually focusing on carbon-carbon bonds.

Perspective Structure

A method of drawing molecules to represent three-dimensional structure on a two-dimensional plane, highlighting the spatial arrangement of bonds.