Mr. and Mrs. Smith purchased 115 shares of stock for $42 per share on June 30, 20X6. On March 30, 20X8, the Smith family decides to sell these shares for $27, generating a loss of $15 per share. On April 15, 20X8, the Smith family realized they made a mistake and repurchased 115 shares for $38 per share. When will the Smith family receive a tax benefit for the loss on the March 30, 20X8, sale?

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The Answer of Mr. and Mrs. Smith purchased 115 shares of stock for $42 per share on June 30, 20X6. On March 30, 20X8, the Smith family decides to sell these shares for $27, generating a loss of $15 per share. On April 15, 20X8, the Smith family realized they made a mistake and repurchased 115 shares for $38 per share. When will the Smith family receive a tax benefit for the loss on the March 30, 20X8, sale?

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