Shen purchased corporate stock for $20,000 on April 10, 2015. On July 14,2017, when the stock was
Question:
Shen purchased corporate stock for $20,000 on April 10, 2015. On July 14,2017, 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, 2017. What is the amount and character of Mijo’s gain or loss?
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Mijo has a fair market value at date of S...View the full answer
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