Question
Craig bought stock for $10,000 and gifted it to Homer when the stock was valued at $5,000. Homer sold the stock 2 years later for
Craig bought stock for $10,000 and gifted it to Homer when the stock was valued at $5,000. Homer sold the stock 2 years later for $8,000. Homers taxable gain on the sale of stock is?
- ($2,000) (capital loss)
- $0
- $3,000
- $8,000
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Practical Guide To Accountancy
Authors: Ajit Kumar Chattopadhyay, Amalendu Mukhopadhyay
1st Edition
1642874264, 9781642874266
