Sue has 5,500 shares of Sony stock that have an adjusted basis of $35,750. She...
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Sue has 5,500 shares of Sony stock that have an adjusted basis of $35,750. She sold the 5,500 shares of stock for cash of $16,500, and she also received a piece of land as part of the proceeds. The land was valued at $22,500 and had an adjusted basis to the buyer of $13,500.
What is Sue's gain or loss on the sale of 5,500 shares of Sony stock?
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