Shen purchased corporate stock for $20,000 on April 10, 2019. On July 14, 2021, when the stock
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Shen purchased corporate stock for $20,000 on April 10, 2019. On July 14, 2021, when the stock was worth $12,000, Shen died and his son, Mijo, inherited the stock. Mijo sold the stock for $14,200 on November 12, 2021. What is the amount and character of Mijo’s gain or loss?
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Related Book For 
South-Western Federal Taxation 2022 Individual Income Taxes
ISBN: 9780357519073
45th Edition
Authors: James C. Young, Annette Nellen, William A. Raabe, Mark Persellin, William H. Hoffman
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