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On July 25, 2020, Karen gives stock with an FMV of $7,110 to her nephew...

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Accounting

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On July 25, 2020, Karen gives stock with an FMV of $7,110 to her nephew Bm. Karen had purchased the stock for $8.140 on March 18, 2020. el sold the stock on April 18, 2021 for $5,650. As a result of the sale, Bill must report on his 2021 tax return Multiple Choice $(2,490) STCL O $12,490) LTC. $(1.460) STCL $(1.460) LTCL

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