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What is the amount of lisa gain or loss

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George transfers stock to Lisa with a fair market value at the date of the gift of $200,000. Lisa's tax basis in the stock was $270,000, and she had held the stock for four months.

Question 1: Suppose Lisa sells the stock nine months after the gift for $300,000. What is the amount of Lisa's gain or loss? Is it short-term or long-term gain or loss?

Reference no: EM132487687

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