Recognized loss on the sale problem


Lem Lumberjack sells 100 shares (basis of $5,000) of Redwood Corporation common stock on March 8, 2008 for $4,000. On March 29, 2008, Lem purchases 50 shares of Redwood Corporation common stock for $2,500. Lem's recognized loss on the sale is ??

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Accounting Basics: Recognized loss on the sale problem
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