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This question was created from Tax Exam (1) https://www.coursehero.com/file/15321953/Tax-Exam-1/

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Several years ago, Kurt paid $15,000 for 1,000 share
st
During the current year ABC declares a three-for-one
stock split. Shortly
thereafter, Kurt sells 1,000 shares of ABC stock for $
2.000. HIS
recognized gain on the sale of the 1,000 shares is:
$7,000.
$2,00
0.
SO.
$12,000.
$5,000.

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