In 2016,Linda gave her son,Jonathan 425 shares of School Products Inc.,common stock.Linda paid $9,350 for the stock in 2010.At the date of the gift,the FMV of the stock was $6,800.Assuming that there is no gift tax paid,if Jonathan sells the stock for $6,000,he will recognize:
A) $3,350 loss.
B) no gain or loss.
C) $3,450 loss.
D) $800 loss.
Correct Answer:
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