Question

Ted inherits stock from his father. The father paid $100,000 for the stock but it was worth $130,000 at the date of his death. Ten months after inheriting the property, Ted sold the stock for $140,000.

What is the result of Ted's sale?


Ted has a long-term capital gain of $10,000

Ted has a long-term capital gain of $40,000

Ted has a short-term capital gain of $40,000​

Answer 1

Answer:

Ted Has A Long-Term Capital Gain Of $40,000 Is The Answer