Margaret Died on September 16,2014,when She Owned Securities with a Basis

question 48

Multiple Choice

Margaret died on September 16,2014,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 19,2014 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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Definitions:

Data

Factual information, especially measurements or research results, used as a basis for reasoning, discussion, or calculation.

Standard Deviation

An indicator that quantifies the extent of spread or deviation of a collection of values from their average.

Data

Information collected for reference or analysis, which can be qualitative or quantitative in nature.

Standard Deviation

An indicator of the range or distribution of data points in a dataset, showing the degree to which the values diverge from the average.