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Sue has 5,050 shares of Sony stock that have an adjusted basis of $28,280. She sold the 5,050 shares of stock for cash of $10,605,
Sue has 5,050 shares of Sony stock that have an adjusted basis of $28,280. She sold the 5,050 shares of stock for cash of $10,605, and she also received a piece of land as part of the proceeds. The land was valued at $20,250 and had an adjusted basis to the buyer of $12,150.
What is Sue's gain or loss on the sale of 5,050 shares of Sony stock?
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