What are the amount and character of hannah recognized gain

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Case: Hannah Tywin owns 100 shares of MM Incorporated stock. She sells the stock on December 11 for $25 per share. She received the stock as a gift from her Aunt Pam on March 20 of this year when the fair market value of the stock was $18 per share. Aunt Pam originally purchased the stock seven years ago at a price of $12 per share.

Question: What are the amount and character of Hannah's recognized gain or loss on the stock?

Reference no: EM133340934

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