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3. An investor buys 1,000 shares of a mutual fund on December 3, 2013 for a total cost of $50,000. On December 23, 2013 the
3. An investor buys 1,000 shares of a mutual fund on December 3, 2013 for a total cost of $50,000. On December 23, 2013 the investor received a long-term capital gain dividend on those shares of $3,000. On February 14, 2014 the investor sells the shares for $48,000. What is the amount of the investors gain or loss on the sale? What is the character of the gain/loss?
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