Sarah Shore bought 500 shares of stock on October 22, 2017, for ($ 30,000). On March 25,2018
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Sarah Shore bought 500 shares of stock on October 22, 2017, for \(\$ 30,000\). On March 25,2018 , she gave half the shares to her sister Cindy when the fair market value of the shares was \(\$ 55\) per share. If Cindy sells the property for \(\$ 14,000\), what is her gain or loss?
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Related Book For
CCH Federal Taxation 2019 Comprehensive Topics
ISBN: 9780808049081
2019 Edition
Authors: Ephraim P. Smith, Philip J. Harmelink, James R. Hasselback
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