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B Sold 300 Shares of Corporate Stock for $2,500 on March

Question 25

Multiple Choice

B sold 300 shares of corporate stock for $2,500 on March 15, 2012.B had a basis in the shares of $5,500.On February 27, 2012, B had purchased 150 shares of identical stock for $1,300.How much are B's gain or (loss) recognized and her basis in the new shares, respectively, from these transactions?


A) ($1,500) and $4,050
B) ($1,500) and $2,800
C) ($250) and $2,800
D) $0 and $5,550

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