The scenario continues. Henry's adjusted basis for the 500 shares of ZZZ Corporation stock he purchased in May 2014 and then sold in 2024 was $2,550, and the holding period was long-term.
If Henry sold 500 shares for $3,300, then what was the sales price for the shares and the resulting gain or loss?
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$3,300 sales price and $750 gain |
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$3,300 sales price and $705 gain |
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$3,255 sales price and $705 gain |
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$2,550 sales price and $705 loss |