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  3. sarah sold 1,000 shares of stock to her brother, d

Sarah sold 1,000 shares of stock to her brother, David, for $19,500 last year. Sarah...

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Accounting

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Sarah sold 1,000 shares of stock to her brother, David, for $19,500 last year. Sarah had purchased the stock for $20,750 several years earlier. What is the amount and character of David's recognized gain or loss in the current year if he sells the stock for $15,375 and $25,375, respectively

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