Question: Harold owns 60 shares of stock in Becker Corporation. His adjusted basis for the stock is $101,000. On December 15, 2015, he sells the stock for $84,000. He purchases 90 shares of Becker Corporation stock on January 12, 2016, for $100,800. (If there is no gain or loss, select "No gain/loss".)
a. What are Harold's realized and recognized gain or loss on the sale?
b. What is Harold's adjusted basis for the 90 shares purchased on January 12, 2016?
How would your answers in (a) and (b) change if he purchased only 35 shares for $35,350 in January? (Round any percentage computation to 2 decimal places. Round other computations to the nearest whole dollar value.