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MrsBeld Sold Marketable Securities with a $79,600 Tax Basis to Her

Question 54

Multiple Choice

Mrs.Beld sold marketable securities with a $79,600 tax basis to her daughter for $60,000 cash.Two years later,the daughter sold the securities through her broker for $93,000.Compute the daughter's gain recognized on sale.


A) $13,400
B) $19,600
C) $33,000
D) None of the above

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