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If Rob sells his stock on October 3rd 2020, which he bought for at cost of $10,000 on June 5th, 2017, and has adjusted basis
If Rob sells his stock on October 3rd 2020, which he bought for at cost of $10,000 on June 5th, 2017, and has adjusted basis of $8,000. Rob sold the stock for its FMV of $7,500 to his daughter, Alissa. What was Rob's recognized loss?
A) $2,000 recognized loss
B) $500 recognized loss
C) $0 recognized loss
D) $2,500 recognized loss
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