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Calculate the amount of the gain or loss on the sale

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Reference no: EM132674702

Problem - Chrissy receives 200 shares of Chevron stock as a gift from her father. The stock cost her father $9,000 10 years ago and is worth $10,500 at the date of the gift.

Required -

a. If Chrissy sells the stock for $12,500, calculate the amount of the gain or loss on the sale.

b. If Chrissy sells the stock for $4,600, calculate the amount of the gain or loss on the sale.

Reference no: EM132674702

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