Sylvia Owns 1,000 Shares of Sidney Sails,Inc

Short Answer

Sylvia owns 1,000 shares of Sidney Sails,Inc.,for which she paid $18,000 several years ago.On March 15,she purchases 400 additional shares for $5,000.Sylvia sells the original 1,000 shares for $13,500 on April 1.These are her only stock transactions during the year.Sylvia's capital loss deduction for the current year and her basis in the new shares are:
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