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Help Save & Exit On November 1, Year 3, Ruth gave Helen a gift of stock worth $15,000. Ruth had purchased the stock on February
Help Save & Exit On November 1, Year 3, Ruth gave Helen a gift of stock worth $15,000. Ruth had purchased the stock on February 1, Year 3 for $17,000. Helen sold the stock to an unrelated party on November 1, Year 4 for $17700. What is the amount and character of Helen's gain or loss upon the sale? 00-40-00 Multiple Choice $700 long-term capital gain 700 short-term capital gain $2,700 long-term capital gain 2,700 shot-term capitl gain
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