Margaret Died on September 16,2019,when She Owned Securities with a Basis

question 19

Multiple Choice

Margaret died on September 16,2019,when she owned securities with a basis of $50,000 and a FMV of $60,000.Caroline inherited the property and sold it on December 19,2019 for $67,000.What is Caroline's reported gain on this sale?

• A)$7,000 STCG
• B)$7,000 LTCG
• C)$17,000 STCG
• D)$17,000 LTCG

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