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What is Jayne gain or loss

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Problem - Jayne purchased General Motors stock 6 years ago for $20,000. In the current year, she sells the stock for $35,000. What is Jayne's gain or loss?

a. $15,000 long-term gain

b. $15,000 short-term gain

c. $15,000 ordinary loss

d. $15,000 extraordinary gain

e. No gain or loss is recognized on this transaction

Reference no: EM132632821

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