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In 2016, Linda gave her son, Jonathan 425 shares of School Products Inc., common stock....

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Accounting

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In 2016, Linda gave her son, Jonathan 425 shares of School Products Inc., common stock. Linda paid $9,350 for the stock in 2010. At the date of the gift, the FMV of the stock was $6,800. Assuming that there is no gift tax paid, if Jonathan sells the stock for $6,000, he will recognize O no gain or loss $800 loss. O $3,350 loss. $3,450 loss

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