A Dad sells stock to child for 50,000. The Dad paid 60,000 for stock. The child sells

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A Dad sells stock to child for 50,000. The Dad paid 60,000 for stock. The child sells stock for 80,000.

What are the tax consequences to both Dad and child?

What if instead the child late sells stock for only 54,000?

Related Book For answer-question

Introduction to Managerial Accounting

ISBN: 978-0078025792

7th edition

Authors: Peter Brewer, Ray Garrison, Eric Noreen

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Posted Date: Oct 03, 2023 11:33 AM

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A Dad sells stock to child for 50,000. The Dad paid 60,000 for stock. The child sells

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Introduction to Managerial Accounting

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