Carlos inherits 100 shares of Allied Corporation stock from his father. The stock cost his father $8,000

Question:

Carlos inherits 100 shares of Allied Corporation stock from his father. The stock cost his father $8,000 and had a $25,000 FMV on the date of his father's death in 2018. The alternate valuation date was not elected. If Carlos sells the Allied Corporation stock for $27,000, ,what would be his taxable gain on the sale?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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