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This year Barney purchased 680 shares of bell com stock for $11.00 per share. At year-end the bell shares were only worth $2.20 per share. What amount can Barney deduct as a loss this year?

Respuesta :

Purchased shares = 680 shares * $11.00 ($7,480)
Year-end shares worth = 680 shares * $2.20 ($1,496)
Loss of shares = $7,480 - $1,496 ($5,984)

OR

Loss in shares price= $11.00 - $2.20 ($8.80)
Loss of shares = 680 shares * $8.80 ($5,984)

Barney can deduct $5,984 as the amount of loss of this year.

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