Multiple Choice
Samantha gives her son, Steve, stock (basis of $72,000; fair market value of $68,000) and no gift tax results. When Steve subsequently sells the stock for $69,000, his recognized gain or loss is:
A) $0.
B) ($3,000) .
C) $1,000.
D) $69,000.
E) None of the above.
Correct Answer:
Verified
Correct Answer:
Verified
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