Christine owned 200 shares of Silver Corporation with a basis of $18,000 and a FMV...
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Accounting
Christine owned 200 shares of Silver Corporation with a basis of $18,000 and a FMV of $24,000. Christine received 20 stock rights as a nontaxable distribution with a total FMV of $6,000. Christine sold the stock rights for $6,500. Christines gain or loss on the sale was
A) $900.
B) $2,900.
C) $(6,000).
D) $6,000.
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