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Sue has 6,150 shares of Sony stock that have an adjusted basis of $47,970. She sold the 6,150 shares of stock for cash of
Sue has 6,150 shares of Sony stock that have an adjusted basis of $47,970. She sold the 6,150 shares of stock for cash of $26,445, and she also received a piece of land as part of the proceeds. The land was valued at $25,750 and had an adjusted basis to the buyer of $15,450. What is Sue's gain or loss on the sale of 6,150 shares of Sony stock?
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