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QUESTION
Anita has decided to sell her stock in TOM, Inc. She purchased the stock 5 years ago for $1,000. The current fair market value is $600.
Anita has decided to sell her stock in TOM, Inc. She purchased the stock 5 years ago for $1,000. The current fair market value is $600. Anita’s sister, Kathy, is interested in buying the stock as is Anita’s friend, Marcia. What tax issues should Anita consider when deciding to whom the stock should be sold?
