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28 May, 20:58

This year Barney purchased 380 shares of Bell common stock for $28.80 per share. At year-end the Bell shares were only worth $3.60 per share. What amount can Barney deduct as a loss this year?

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  1. 28 May, 21:18
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    Not entitled

    Explanation:

    Given that

    Number of shares purchased = 380 shares

    Par value of share = $28.80 per share

    Worth per share = $3.60 per share

    By considering the above information, the Barney is not eligible for the deduction as there is no share is sold i. e only purchase value of the share and the worth per share is given.

    So, he is not entitled to any loss this year
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Home » Business » This year Barney purchased 380 shares of Bell common stock for $28.80 per share. At year-end the Bell shares were only worth $3.60 per share. What amount can Barney deduct as a loss this year?
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