Shen purchased corporate stock for $20,000 on April 10, 2020. On July 14, 2022, when the stock
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Shen purchased corporate stock for $20,000 on April 10, 2020. On July 14, 2022, 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, 2022. 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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Related Book For 
South Western Federal Taxation 2023 Comprehensive Volume
ISBN: 9780357719688
46th Edition
Authors: Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young
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