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Can someone check if these answers are correct. Dunn received 100 shares of stock as a gift from Dunn's grandparent. The stock cost Dunn's grandparent
Can someone check if these answers are correct.
Dunn received 100 shares of stock as a gift from Dunn's grandparent. The stock cost Dunn's grandparent $32,000 and it was worth $27.000 at the time of the transfer to Dunn. Dunn sold the stock for $24,000. What amount of gain or loss should Dunn report from the sale of the stock? O $0 O $2.000 gain $3.000 loss O $5.000 loss Which of the following is incorrect as it relates to the following statement: "Taxpayers may not deduct expenditures made in connection with the following: O bribes or fines reasonable business expenses O participating or intervening in any political campaign of any candidate for public office O Attempting to influence the general public with respect to elections, legislative matters, or referendumsStep by Step Solution
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