Mr. Hippo owns 10000 shares of lowland corporation common stock which he purchaed on March 8, 2011 for $200,000. On October 3, 2018 Hippo purchased an additional 4,000 shares for $76000. On october 12, 2018 he sells the original 10,000 shares for $170,000. on november 1, 2018 he purchaes an additional 4,000 shares for 66. 000 what is mr, hippos regogines gaon or loss on the sale on october 12

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter7: Losses—deductions And Limitations
Section: Chapter Questions
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Mr. Hippo owns 10000 shares of lowland corporation common stock which he purchaed on March 8, 2011 for $200,000. On October 3, 2018 Hippo purchased an additional 4,000 shares for $76000. On october 12, 2018 he sells the original 10,000 shares for $170,000. on november 1, 2018 he purchaes an additional 4,000 shares for 66. 000

what is mr, hippos regogines gaon or loss on the sale on october 12

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