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6. Tommy Bickford purchased stock for $6,000. The stock was worth $7,000 when it was transferred to his grandson, Jonathan. EQUIRED: A. Compute Jonathan's gain

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6. Tommy Bickford purchased stock for $6,000. The stock was worth $7,000 when it was transferred to his grandson, Jonathan. EQUIRED: A. Compute Jonathan's gain or loss if he sold the stock for $13,000 after he received it: As a gift As an inheritance B. Compute Jonathan's gain or loss if he sold the stock for $3,000 after he! received it: As a gift As an inheritance

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