In 2005,Savannah purchased 200 shares of Hi-Style stock as an investment.The stock cost $12,000.In 2014 when the fair market value was $14,000,Savannah gave the stock to her daughter,Daniele.If no gift tax is paid and Daniele sells the stock for $15,000,she will recognize:
A) no gain or loss.
B) a $1,000 gain.
C) a $2,000 gain.
D) a $3,000 gain.
Correct Answer:
Verified
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