In January 2022, Ken's brother Jose was in need of cash so he sold 100 shares of X stock to Ken that he had purchased a few years before. Ken paid Jose $15,000 for the stock on January 15, 2022. Jose had originally purchased the stock for $25,000. In November, 2023, Ken sold the stock for $45,000. Be sure to cite your authority. a. What is the tax treatment to Jose on the sale of stock to Ken? b. What is the tax treatment to Ken on his sale of stock in 2023?

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a The tax treatment to Jose on the sale of stock to Ken in January ... View the full answer