Go to page 1 chased a pair of shoes for $500 in 2019. In 2020, Leila realized the shoes had appreciated in value, to a value of $750. Leila sold her shoes to a neighbor on October 1, 2020 for $750. What are the tax consequences to Leila from the sale of shoes? $250 capital gain $0. Leila does not have any tax consequences because the IRS will know know about this transaction. None of these is correct. The correct answer is scratch paper) (Write your answer on your $250 ordinary income