Dwight inherited 1,000 shares of stock from his father who died in the current year. His father paid $30 per share for the stock several years ago. The FMV of the stock on the date of death was $60 per share. Dwight later sold the stock for $80 per share. What was Dwight's gain (loss) on the sale? Select one: OA. $30,000 gain O B. $50,000 gain OC. $20,000 gain O D. $0

Dwight inherited 1,000 shares of stock from his father who died in the current year. His father paid $30 per share for the stock several years ago. The FMV of the stock on the date of death was $60 per share. Dwight later sold the stock for $80 per share. What was Dwight's gain (loss) on the sale? Select one: A. $30,000 gain B. $50,000 gain C. $20,000 gain D. $0