Can someone please help with this? I can't even find a formula or anything to calculate the amount and I am so lost.
Question: Martin sells a stock investment for $25,000 on August 2,2010. Martin's adjusted basis in the stock is $14,000.
a. If Martin had acquired the stock on November 15, 2009, calculate the amount and the nature of the gain or loss.
b. If Martin had acquired the stock on September 11, 2008, calculate the amount and the nature of the gain or loss
Or if someone can please just explain this a little furthur to me, thank you!!!