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31. Tyrone's father who died on January 10, 2021 had owned stock for 20 years with a basis of $45.000 that was transferred to Tyrone
31. Tyrone's father who died on January 10, 2021 had owned stock for 20 years with a basis of $45.000 that was transferred to Tyrone as a gift on August 10, 2020, when the stock was worth $430,000. Tyrone's father had paid no gift taxes. This stock was worth $566,000 at the date of the father's death. Tyrone sold the stock for $545,000 net of commissions on February 23, 2021. What is the amount and nature of his gain or loss from disposition of this property? 10 points-show your work
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