Year 1 (April): Tammy purchases 1,000 shares of ABC Corp. stock for $36,000. Year 4 (mid-December): Tammy sells all 1,000 of those ABC shares for $20,000. Year 5 (early January): Tammy purchases 1,000 ABC shares for $22,000. Year 7 (July): Tammy sells all 1,000 of those ABC shares for $26,000.   State the amount of Tammy’s gain or loss on the Year 7 sale.

Q: cognized gain or loss as a result of the sale of the stock and what is the basis of the shares

A: Shares when sold profit is calculated by subtracting it's cost.

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A:

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