Padraic Purchased 50 Shares of Stock as an Investment for the Purchase

Multiple Choice

Padraic purchased 50 shares of stock as an investment for the purchase price of $2,500 in 2013.In 2016 when the fair market value of the stock was $2,500,Padraic gave the stock to his sister,Fiona.If no gift tax is paid and Fiona sells the stock for $2,750 she will recognize:

A) $300 gain.
B) $500 gain.
C) $250 gain.
D) $800 gain.