Joyce receives investment property from her mother as a gift in 2018. Her mother paid $15,000 for the property in 2012, and it is valued at $18,000 on the date of the gift. Joyce sells the property eight months later for $16,000. Joyce's realized gain or loss is
A) $1,000 loss
B) $2,000 loss
C) $1,000 gain
D) $2,000 gain
E) $16,000 gain
Correct Answer:
Verified
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