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Gwen inherited 100 shares of SuperShoes stock when her mother died on October 21, 2013; the fair market value of the stock was $20 per
Gwen inherited 100 shares of SuperShoes stock when her mother died on October 21, 2013; the fair market value of the stock was $20 per share. Her mother paid $200 per share when she purchased the stock March 1, 2004. If Gwen sells all 100 shares for $50 per share on July 3, 2015, how should she report the sale on her return for 2015?
A. $3,000 long-term capital gainB. $3,000 short-term capital gainC.$12,000 long-term capital gainD.$15,000 short-term capital loss
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