On December 28,2017,Shelia sold 300 shares of Power Inc.(a publicly traded company) at a loss of $5,900.On January 5,2018,Shelia repurchased 300 shares of Power Inc.
A) The $5,900 loss is disallowed.
B) The $5,900 loss is only allowed if Shelia has capital gains to offset the loss.
C) The $5,900 loss is only allowed if Shelia's AGI is less than $100,000.
D) Only $3,000 of the loss is allowed.
Correct Answer:
Verified
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