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prod5 prod5
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3 years ago
On July 25, 2015, Karen gives stock with a FMV of $7,500 and a basis of $8,000 to her nephew Bill. Karen had purchased the stock on March 18, 2015.  Bill sold the stock on April 18, 2016 for $6,000. As a result of the sale, what must Bill report on his 2016 tax return?

▸ ($1,500) STCL

▸ ($1,500) LTCL

▸ ($2,000) STCL

▸ ($2,000) LTCL
Textbook 
Federal Taxation 2017 Individuals

Federal Taxation 2017 Individuals


Edition: 30th
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stephbrostephbro
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3 years ago
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