Jay Sells Property with an Adjusted Basis of $19,000 to His

Multiple Choice

Jay sells property with an adjusted basis of $19,000 to his daughter for $12,000.Daughter subsequently sells the property to her brother for $12,000.Two years later,brother sells the property to Hun,an unrelated party,for $21,000.What is brother's recognized gain or loss on the sale of the property?

A) $0.
B) $2,000.
C) $4,000.
D) ($2,000) .
E) None of the above.