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What is joyce gain or loss

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Reference no: EM132917377

Problem 1: Joyce purchased General Electric stock 4 years ago for $10,000. In the current year, she sells the stock for $25,000. What is Joyce's gain or loss?

Option 1: $15,000 long-term gain
Option 2: $15,000 short-term gain
Option 3: $15,000 ordinary loss
Option 4: $15,000 extraordinary gain
Option 5: No gain or loss is recognized on this transaction

Reference no: EM132917377

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