LO 8.2 4. Chrissy receives 200 shares of Chevron Texaco stock as a gift from her father.
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LO 8.2 4. Chrissy receives 200 shares of Chevron Texaco stock as a gift from her father. The stock cost her father $8,500 10 years ago and is worth $10,000 at the date of the gift.
a. If the stock is sold for $12,500, calculate the amount of the gain or loss on the sale.
$ ____________
b. If the stock is sold for $4,600, calculate the amount of the gain or loss on the sale.
$ ____________
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Related Book For 
Income Tax Fundamentals 2011
ISBN: 9780538469197
29th Edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller
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