Shen purchased corporate stock for $20,000 on April 10, 2014. On July 14, 2016, when the stock

Question:

Shen purchased corporate stock for $20,000 on April 10, 2014. On July 14, 2016, when the stock was worth $12,000, Shen died and his son, Mijo, inherited the stock. Mijo sold the stock for $14,200 on November 12, 2016. What is the amount and character of Mijo's gain or loss?

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