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James received stock as a gift three years ago. At the time of the gift, the donors basis in the stock was $12,000 and the

James received stock as a gift three years ago. At the time of the gift, the donors basis in the stock was $12,000 and the fair market value was $8,000. Arnold sells the stock this year for $10,000.

What is Arnold's recognized gain or loss on the sale

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