What is gain or loss on the stock

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Reference no: EM131202904

Laura's father, Albert, gave Laura a gift of 500 shares of Green Corporation common stock in the current year. Albert's basis for the Green stock was $10,000. At the date of this gift, the fair market value of the Green stock was $7,000. No gift tax was paid with respect to the transfer. If Laura sold the 500 shares of Green stock in the current year for $5,000, What is gain or loss on the Stock?

Reference no: EM131202904

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