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Susie gave her granddaughter, Laura, some ABZ Co. stock last year when its fair market value was $25,000. Susie acquired the stock in 2010 at
Susie gave her granddaughter, Laura, some ABZ Co. stock last year when its fair market value was $25,000. Susie acquired the stock in 2010 at a cost of $35,000. Laura sold the ABZ Co. stock this year for $32,000. What are the tax consequences for Laura this year? Group of answer choices No income or loss. Loss of ($3,000). Gain of $3,000. Gain of $10,000.
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