On December 28, 2015, Misty sold 300 shares of Low Grade, Inc. (a publicly traded company) at a loss of $8,500. On January 5, 2016, thinking that the stock price would rebound, Misty purchased 200 shares of Low Grade, Inc. for $7,000. What is the amount of the recognized loss on the December 28, 2015 sale and what is Misty's basis in the 200 shares she purchased on January 5, 2016?

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The Answer of On December 28, 2015, Misty sold 300 shares of Low Grade, Inc. (a publicly traded company) at a loss of $8,500. On January 5, 2016, thinking that the stock price would rebound, Misty purchased 200 shares of Low Grade, Inc. for $7,000. What is the amount of the recognized loss on the December 28, 2015 sale and what is Misty's basis in the 200 shares she purchased on January 5, 2016?

On December 28, 2015, Misty Sold 300 Shares of Low