Individual A is neither a trader nor a dealer for purposes of IRC 475. A purchases a single share of publicly traded Z stock for $1,000 on June 1, 2020. As of December 31, 2020, Z stock is trading at $1,200 per share. On July 30, 2021, A sells the Z stock for $1,500. Assuming no further transactions, what is A's income in respect of Z stock for the tax year ending 12/31/2021?

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Individual As income in respect of Z stock for the tax year ending 12312021 is 500 Heres why I... View the full answer