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Author Question: Jane purchased General Motors stock seven years ago for $20,000. In 2015, she sold the stock for ... (Read 197 times)

laurencescou

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Jane purchased General Motors stock seven years ago for $20,000. In 2015, she sold the stock for $35,000. What is Jane's gain or loss?


◦ $15,000 long-term gain
◦ $15,000 short-term gain
◦ $15,000 extraordinary gain
◦ No gain or loss is recognized


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Marked as best answer by laurencescou on Apr 12, 2019

Dinolord

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