During Year 1, Mr. F acquired 100 shares of stock in ABC Corporation for $500....

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Accounting

During Year 1, Mr. F acquired 100 shares of stock in ABC Corporation for $500. During Year 3, he sold all his stock for $1,000. He adjusted basis in the stock at the time of sale was $500, and he had no other capital gains or losses during the year. What is the amount and character of income to be reported on F’s income tax return Year 3?

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