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What is a Capital Asset?, Holding Period, and Calculation of Gain or Loss (LO 8.1, 8.2, 8.3) Martin sells a stock investment for $26,000 on

What is a Capital Asset?, Holding Period, and Calculation of Gain or Loss (LO 8.1, 8.2, 8.3)

Martin sells a stock investment for $26,000 on August 2, 2016. Martin's adjusted basis in the stock is $15,000.

a. If Martin acquired the stock on November 15, 2015, calculate the amount and the nature of the gain or loss. $

b. If Martin had acquired the stock on September 11, 2014, calculate the amount and nature of the gain or loss. $

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