Multiple Choice
Karen purchased 100 shares of Gold Corporation stock for $11,500 on January 2, 2019.During 2019, she sells 25 shares of the 100 shares purchased on January 2, 2019, 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.
Correct Answer:

Verified
Correct Answer:
Verified
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