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Sara Nade had a 2021 capital asset transaction as noted below. For each asset disposition, determine the amount of her gain or loss for tax

Sara Nade had a 2021 capital asset transaction as noted below. For each asset disposition, determine the amount of her gain or loss for tax purposes.

  1. On February 2nd Sara received 100 shares of Unk, Inc. common stock from her deceased Uncle Wade’s estate. She immediately sold the stock for $28 per share, paying a $50 brokerage commission. Her uncle had received this stock as a gift a few weeks before he died on 07/09/20. The special friend who gave t to him had bought the stock for $1 a share in 201 Uncle Wade’s estate was a modest one and no U.S. estate tax was required. The stock was actively traded at $23 per share on 06/21/20, $24 on 07/09/20, $26 on 12/21/20, and $29 on 01/02/21

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Answer The gain on the sale of the stock is 2 per share or 200 in total The basis of ... blur-text-image

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