Multiple Choice
Diane gifted 100 shares of Runners Link common stock with a FMV of $8,000 to her brother,Sean.The stock originally cost Diane $11,000.Sean later sells the stock on the open market for $9,000.Sean recognizes:
A) no gain or loss.
B) a $2,000 loss.
C) a $2,000 gain.
D) a $1,000 gain.
Correct Answer:
Verified
Correct Answer:
Verified
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