question archive Sue has 5,100 shares of Sony stock that have an adjusted basis of $29,070
Sue has 5,100 shares of Sony stock that have an adjusted basis of $29,070
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Sue has 5,100 shares of Sony stock that have an adjusted basis of $29,070. She sold the 5,100 shares of stock for cash of $11,220, and she also received a piece of land as part of the proceeds. The land was valued at $20,500 and had an adjusted basis to the buyer of $12,300.
What is Sue's gain or loss on the sale of 5,100 shares of Sony stock?
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