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21 June, 07:59

Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $5,400 on January 15, 2017. On December 31, 2019, she sold all 1,000 shares of her Ibis stock for $4,700. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2020, for $3,100.

a. What is Ms. Fresh's recognized loss on her 2019 sale.

b. What is her basis in her 1,000 shares purchased in 2020

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