Essay
On January 18, 2018, Martha purchased 200 shares of Blue Corporation stock for $2,000.On November 11, 2019, she sold short 200 shares of Blue stock, which she borrowed from her broker for $2,300.On February 10, 2020, Martha closed the short sale by delivering the 200 shares of Blue stock which she had acquired in 2018.On that date, Blue stock had a market price of $4 per share.What is Martha's recognized gain or loss and its character in 2019? In
2020?
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