Ara, who is a single taxpayer, purchased 1,000 shares of ABC stock two years ago for $42,000. She sold 500 shares on December 30, 2019 for $18,720. On January 7, 2020, she repurchased 300 shares for $7,000. How much loss can Ara use to reduce taxable income in 2019 related to this sale and what is her basis in the shares purchased in January 2020?

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.