Ronald, a Single Taxpayer, Purchased 300 Shares of Jasmine Inc

Ronald, a single taxpayer, purchased 300 shares of Jasmine Inc., stock on October 14, 2012, for $4,000. He sells the stock on August 22, 2014, for $2,000. Ronald has no other capital asset transactions in 2014. I. If Ronald's taxable income without considering the stock sale is $93,000, the sale of the stock will decrease his income tax liability by $560. II. If Ronald's taxable income without considering the stock sale is $13,000, the sale of the stock will decrease his income tax liability by $300.

A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements are correct.
D) Neither statement is correct.