21. Perry inherits stock from his aunt Margaret that had a basis of $40,000 to...
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21. Perry inherits stock from his aunt Margaret that had a basis of $40,000 to Margaret and a fair market value of $54,000 on May 20, 2020, the date of her death. Paul sells the stock on June 21, 2020, for $65,000. What are the amount and character of the gain or loss on the sale? (4 points)
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