Question 39 Not yet answered Points out of 1.0 Samantha gives her son 500 shares...
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Question 39 Not yet answered Points out of 1.0 Samantha gives her son 500 shares of Microsoft stock for which she paid $144 per share. Samantha purchased the shares on June 16, 2018. Samantha's son, Jacob, received the stock from his mother on June 17, 2019, when Microsoft was trading at $156 per share. No gift tax is paid. Jacob subsequently sells the stock on June 20, 2019 for $138 per share. What amount of gain or loss will Jacob recognize on his 2019 tax return and what is his holding period? P Flag question Select one: a. ($3,000). Short term capital loss. b. ($5,000). Long term capital loss. C. ($3,000). Long term capital loss. d. $0. Holding period is irrelevant. e. None of the choices listed are correct
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