You recently received the following e-mail from a client and friend:

Hey Great Student,

I cannot believe it is almost year end! Only a few days before its 2020.

As you recall, I was lucky enough to win big at the casino back on New Years Day earlier this year (thanks for celebrating with me). I took the $3,000 I won and bought 100 shares of stock in that cool new smartphone app company, TriviaAddiction. I just love playing that game. Anyway, the stock has done well, and I am thinking of selling before year end now that the price has reached $240 per share. Since you are my tax adviser, I thought Id ask a couple of questions:

1. Is there any reason to wait and sell later?

2. If I dont sell, the price might go down (TriviaMaster seems to be replacing TriviaAddiction as the hot new game). Im thinking the price might be as low as $220 by early next year.

My taxable income this year and next year is expected to be $40,000 (not including the stock sale). I think that puts me in the 12 percent tax bracket? Any suggestions on what I should do?

Thanks!