medium · Certified Financial Planner Tax Planning
The Calder family received a gift of stock from a grandmother. On the date of the gift, the donor's basis was 12,000 and the fair market value was 8,000. The Calders later sell the stock for 10,000.
What is the resulting tax consequence?
- 0 gain or loss recognized
- 2,000 long-term capital loss
- 2,000 capital gain
- 1,000 short-term capital loss
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