Multiple Choice
Margaret died on September 16,2014,when she owned securities with a basis of $50,000 and a FMV of $60,000.Caroline inherited the property and sold it on December 19,2014 for $67,000.What is Caroline's reported gain on this sale?
A) $7,000 STCG
B) $7,000 LTCG
C) $17,000 STCG
D) $17,000 LTCG
Correct Answer:
Verified
Correct Answer:
Verified
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