In 2006, Savannah purchased 200 shares of Hi-Style stock as an investment. The stock cost $12,000. In 2015 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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