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What gain or loss does deirdre recognize on the sale

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Deirdre sold 100 shares of stock to her brother, James, for $2,400. Deirdre purchased the stock several years ago for $3,000.

a. What gain or loss does Deirdre recognize on the sale?
b. What amount of gain or loss does James recognize if he sells the stock for $3,200?
c. What amount of gain or loss does James recognize if he sells the stock for $2,600?
d. What amount of gain or loss does James recognize if he sells the stock for $2,000?

 

Reference no: EM13506451

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