Chrissy receives 200 shares of Chevron stock as a gift from her father. The stock cost her
Question:
Chrissy receives 200 shares of Chevron stock as a gift from her father. The stock cost her father $9,000 10 years ago and is worth $10,500 at the date of the gift.
a. If Chrissy sells the stock for $12,500, calculate the amount of the gain or loss on the sale.
b. If Chrissy sells the stock for $4,600, calculate the amount of the gain or loss on the sale.
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a 12500 9000 3500 gain b 4600 9000 4400 loss S...View the full answer
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Related Book For 
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
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