d blue corp stock for 10,000 in 2014. Rachel sells the stock to her sister for 2,000 in 2018. In 2020, her sister sells the bonds for 25,000 to a non relative. What is the amount of her sister's taxable gain? a. 0 b. 15000
d blue corp stock for 10,000 in 2014. Rachel sells the stock to her sister for 2,000 in 2018. In 2020, her sister sells the bonds for 25,000 to a non relative. What is the amount of her sister's taxable gain? a. 0 b. 15000
Chapter2: Income Tax Concepts
Section: Chapter Questions
Problem 42P
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Question
Rachel purchased blue corp stock for 10,000 in 2014. Rachel sells the stock to her sister for 2,000 in 2018. In 2020, her sister sells the bonds for 25,000 to a non relative. What is the amount of her sister's taxable gain?
a. 0
b. 15000
c. 23000
d. 25000
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