Donald sells stock with an adjusted basis of 38000 to his, Ask an Expert

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Donald sells stock with an adjusted basis of $38,000 to his son, Kiefer, for its fair market value of $30,000. Kiefer sells the stock three years later for $32,000. Kiefer will recognize a gain on the subsequent sale of:

A) $-0-.

B) $2,000.

C) ($6,000).

D) ($8,000).

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M945825

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