Related Party Sales -Example: Normann owned stock costing $15,000. Normann sold the stock to his son Wayne for $12,000. How much loss is realized on the sale of the stock? ? How much loss may Normann recognize on his tax return? Iss 3,000 - Assume that subsequently, Waynne sold the stock with a basis of $12,000 for $14,000 to an unrelated third party How much gain is realized on the sale of the stock? ? How much gain may Waynne recognize on his tax return? 7?000 Gyn Alternatively, assume that Waynne sold the stock with a basis of $12,000 for $10,000 to an unrelated third party - How much loss is realized on the sale of the stock? How much loss may Waynne recognize on his tax return? ois 2,000