Larry Gives Linda 300 Shares of Stock He Had Purchased

Multiple Choice

Larry gives Linda 300 shares of stock he had purchased several years ago for $8,000. On the date of the gift, the stock has a fair market value of $6,000. Linda sells the 300 shares for $5,500 one month after the gift, Linda realizes a

A) $- 0 - gain or loss
B) $500 short-term capital loss
C) $500 long-term capital loss
D) $2,500 short-term capital loss
E) $2,500 long-term capital loss