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Sharif and Judith are married and purchased a vacation home together in Maine for $ 2 5 0 , 0 0 0 . Sharif died

Sharif and Judith are married and purchased a vacation home together in Maine for $250,000. Sharif died suddenly six months later and at that time the fair market value of the vacation home was $280,000. Judith is distraught and wants to immediately sell the vacation home. Unfortunately she cannot find a buyer right away. Ten months after Sharif died, Judith accepts an offer to sell the vacation home for $260,000. How much gain/loss will Judith report on her tax return and what is the character of that gain/loss (long-term or short-term)?

  

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