Gloria sells land that she held as an investment to acy for Senate Campaign Comm

Question

Gloria sells land that she held as an investment to acy for Senate Campaign Committe, Gloria paid $2,000.for the property and sold it for $2,000. Lacy intends to auction it off to purchase commercial time. Lacy expects to be able to sellthe land for at least $15,000. Since we only need to determine the tax treatment of Gloria's sale to the Lacy for enate Campaign Committee, we only need to verify her part in the transaction. Still waiting for the other answers you were going to send to me....I only have until Friday 3/1/13 Thank you very much for all of your help vsantos@laredoisd.org

Explanation / Answer

Tax treatment on Gloria is ( 2000 - 2000 ) * Tax Percentage = 0

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