Shen purchased corporate stock for $20,000 on April 10, 2017. On July 14, 2019, when the stock

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Shen purchased corporate stock for $20,000 on April 10, 2017. On July 14, 2019, 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, 2019. What is the amount and character of Mijo’s gain or loss?

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South-Western Federal Taxation 2020 Comprehensive

ISBN: 9780357109144

43rd Edition

Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman

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