Solution-What is the Ned loss, Dan gave Ned 500 shares of

What is the Ned loss

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Question - Dan gave Ned 500 shares of devices Inc. common stock when the shares had a basis of $15,000 and a fair market value of 9000. Damn paid no gift tax on the transfer because it qualified for the gift tax annual exclusion, which can Sheltered gifts of present interests up to $14,000 in value. The Stocks value started to fall and then sold the shares for $8000. What is Ned's loss?

a. 1000

b. 3000

c. 6000

d. 7000

Reference no: EM132430248

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What is the Ned loss : Dan gave Ned 500 shares of devices Inc. common stock when the shares had a basis of $15,000. What is Ned's loss

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What is the Ned loss

Reference no: EM132430248

Reference no: EM132430248

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