Nontaxable distribution, Jessica owned 200 shares of OK

Nontaxable distribution

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Reference no: EM13919302

Jessica owned 200 shares of OK Corporation with a basis of $12,000 and a FMV of $24,000. Jessica received 20 stock rights as a nontaxable distribution with a total FMV of $8,000. Jessica sold the stock rights for $4,000. Jessica's gain or loss on the sale was?

Reference no: EM13919302

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