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Jill inherited 100 shares of GoTech Inc. stock when her mother died on October 21, 2018; the fair market value of the stock was $20
Jill inherited 100 shares of GoTech Inc. stock when her mother died on October 21, 2018; the fair market value of the stock was $20 per share. Her mother paid $200 per share when she purchased the stock March 1, 2009. If Jill sells all 100 shares for $50 per share on July 3, 2021, how should she report the sale on her income tax return?
A. $3,000 long-term capital gain
B. $3,000 short-term capital gain
C. $12,000 long-term capital gain
D. $15,000 short-term capital loss
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