Smith, an individual calendar-year taxpayer, purchased 100 shares of Core Co. common stock for $15,000 on December 15, 2009, and an additional 100 shares for $13,000 on December 30, 2009. On January 3, 2010, Smith sold the shares purchased on December 15, 2009, for $13,000. What amount of loss from the sale of Core stock is deductible on Smith's 2009 and 2010 income tax returns?

Smith, an individual calendar-year taxpayer, purchased 100 shares of Core Co. common stock for $15,000 on December 15, 2009, and an additional 100 shares for $13,000 on December 30, 2009. On January 3, 2010, Smith sold the shares purchased on December 15, 2009, for $13,000. What amount of loss from the sale of Core stock is deductible on Smith's 2009 and 2010 income tax returns?

Smith, an individual calendar-year taxpayer, purchased 100 shares of Core Co. common stock for $15,000 on December 15, 2009, and an additional 100 shares for $13,000 on December 30, 2009. On January 3, 2010, Smith sold the shares purchased on December 15, 2009, for $13,000. What amount of loss from the sale of Core stock is deductible on Smith's 2009 and 2010 income tax returns?


2009
2010

a) $0
$0
b) $0
$2,000
c) $1,000
$1,000
d) $2,000
$0


Answer: a) $0
$0


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