Norman Received Shares of Stock as a Gift from His

Multiple Choice

Norman received shares of stock as a gift from his uncle in 2015.At the time of the gift,the stock had a FMV of $5,000.The uncle purchased the stock in 2013 and had a basis of $6,000.If Norman sells the stock for $7,000 in 2017,he will report a:

A) $1,000 ordinary gain.
B) $1,000 capital gain.
C) $2,000 ordinary gain.
D) $2,000 capital gain.