Solved: Richard sold the stock on october 15 2013 for its fair, Finance Basics

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Richard sold the stock on october 15 2013 for its fair

On June 2, 2012, Ashley purchased 100 shares of stock for $10,000. When it was worth $20,000, on December 25, 2012, she gifted all the stock to her nephew, Richard. Richard sold the stock on October 15, 2013, for its fair market value of $25,000. What is Richard's tax consequence?

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Finance Basics: Richard sold the stock on october 15 2013 for its fair

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Finance Basics: Richard sold the stock on october 15 2013 for its fair

Reference No:- TGS02874665

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