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On April 28, 2019, they sold for $8,000 stock that Cathy had received as a gift from her mother, who had purchased the stock for
On April 28, 2019, they sold for $8,000 stock that Cathy had received as a gift from her mother, who had purchased the stock for $10,000 in 2013.Her mother gave Cathy the stock on November 15, 2017 when the fair market value was $9,400.
Is there a loss here? How much of that loss gets recorded in our taxes?
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