0.25 pts Eli inherited stock from his father in 2015. Eli's father's adjusted basis was...
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0.25 pts Eli inherited stock from his father in 2015. Eli's father's adjusted basis was $100,000 at the time of death, and the fair market value of the stock on the date of death was $750,000 (no alternate valuation date was used). This year, Eli sold the stock to his sister, Sara. Same facts as previous question except assume that Eli sold the stock to his sister, Sara, for $700,000. What is Eli's recognized gain or loss on the sale of the stock to Sara for $700,000
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