Multiple Choice
On July 25,2016,Marilyn gives stock with a FMV of $7,500 and a basis of $5,000 to her nephew Darryl.Marilyn had purchased the stock on March 18,2016.Darryl sold the stock on April 18,2017 for $7,800.As a result of the sale,what will Darryl report on his 2017 tax return?
A) $300 STCG
B) $300 LTCG
C) $2,800 STCG
D) $2,800 LTCG
Correct Answer:
Verified
Correct Answer:
Verified
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