Olivia sells some stock she purchased several years ago for $9,000 to her brother Jack for $12,000.One year later Jack sells the stock for $15,000.The tax consequences to Olivia and Jack are:

Question

Olivia sells some stock she purchased several years ago for $9,000 to her brother Jack for $12,000.One year later Jack sells the stock for $15,000.The tax consequences to Olivia and Jack are:
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Quizplus · Accepted Answer

The Answer of Olivia sells some stock she purchased several years ago for $9,000 to her brother Jack for $12,000.One year later Jack sells the stock for $15,000.The tax consequences to Olivia and Jack are:
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Olivia Sells Some Stock She Purchased Several Years Ago for $9,000