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What is the amount of capital gain must recognize

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Reference no: EM133000312

Problem 1: A daughter inherits stock from her father with a FMV of $70,000 at the date of death. Her father purchased the stock two months ago for $20,000. She then sells the stock for $80,000. What is the amount of capital gain she must recognize?

A. $10,000 LTCG
B. $10,000 STCG
C. $35,000 LTCG
D. $45,000 STCG
E. $45,000 LTCG

Reference no: EM133000312

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