Which of the Following Statements Is Incorrect Regarding the Gain

Which of the following statements is incorrect regarding the gain or loss from the sale of property received as a gift?

A) If the FMV is less than the donor's adjusted basis at the time of the gift, the basis for figuring the gain is the donor's basis.
B) If the FMV is less than the donor's adjusted basis at the time of the gift, the basis for figuring the loss is the FMV of the asset.
C) If the FMV is equal to or more than the donor's adjusted basis, the basis for any gain or loss on a sale is the FMV of the asset.
D) If the FMV is equal to or more than the donor's adjusted basis, the basis for any gain or loss on a sale is the donor's adjusted basis.