Ben Sells Stock (Adjusted Basis of $14,000)to His Son,Ray,for Its

question 14

True/False

Ben sells stock (adjusted basis of $14,000)to his son,Ray,for its fair market value of $9,500.Ray gives the stock to his daughter,Trish,who subsequently sells it for $13,500.Ben's recognized loss is $0 and Trish's recognized gain is $0 ($13,500 - $9,500 - $4,000).

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