What is the appropriate tax treatment available

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Reference no: EM132233633

Bernie is a participant in his employer's non-contributory ESOP. Two years ago, his employer contributed stock with a fair market value of $30,000 into Bernie's account. Bernie retired one year later and took distribution of the stock when its fair market value was $40,000. Two years after his retirement, Bernie sold the stock for $50,000. What is the appropriate tax treatment available to Bernie upon sale of the stock?

  • $10,000 long-term capital gain
  • $20,000 ordinary income
  • $20,000 long-term capital gain
  • $50,000 ordinary income

Reference no: EM132233633

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