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12 View previous attempt 01:57:31 In 2021, Ann received 1,000 shares of stock as a gift from Tim, who had purchased them in 2012.
12 View previous attempt 01:57:31 In 2021, Ann received 1,000 shares of stock as a gift from Tim, who had purchased them in 2012. At the time of the gift, the FMV of the stock was $31,800 and Tim's basis was $35,000. If Ann sells the stock for $31,154 in 2021, what are the nature and amount of the loss from the sale? eBook Multiple Choice $646 short-term loss $3,200 long-term loss $3,846 long-term loss $646 short-term loss and $3,200 long-term loss
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