Question - which is the correct answer Decedent at death owned 400 shares of ABC having a reported value on the NY Stock Exchange of $800 and for which he paid $300.A federal estate tax return was not required for the decedents estate. The personal representative sells the ABC for $500 four months after the decedents death. a.the estate recognizes neither gain or loss on the sale. b.the estate recognizes a short term capital loss of $300. c.the estate recognizes a long term capital loss of $300. d.the estate recognizes a long term capital loss of $150.