Lisa Sells Some Stock She Purchased Several Years Ago for $10,000

question 91

Short Answer

Lisa sells some stock she purchased several years ago for $10,000 to her brother Bart for $8,000.One year later Bart sells the stock for $12,000.The tax consequences to Lisa and Bart are:
$\begin{array}{ll}{\text { Lisa }} & \text { Bart } \\a.\$ 2,000 \text { loss } & \$ 4,000 \text { gain } \\b.\text { No gain or loss } & \$ 4,000 \text { gain } \\c.\text { No gain or loss } & \$ 2,000 \text { gain } \\d.\$ 2,000 \text { gain } & \text { No gain or loss } \\e.\$ 2,000 \text { loss } & \$ 2,000 \text { gain }\end{array}$

---

Definitions:

Universe

The vast expanse that includes all of space, time, matter, energy, planets, stars, galaxies, and all contents of space.

Electronic Equipment

Devices or systems that use electric currents or electromagnetic fields to function, such as computers, audio receivers, and smartphones.

Concise Language

The use of few words without losing the intended meaning or essence of the message.

Ancient People

Early humans and their societies, cultures, and civilizations before the advent of recorded history.