Business, 24.01.2020 23:31 jocelynn2379

Simmons gives her child a gift of publicly-traded stock with a basis of $40,000 and a fair market value of $30,000. no gift tax is paid. the child subsequently sells the stock for $36,000.
what is the child's recognized gain or loss, if any?

a. $4,000 loss.
b. no gain or loss.
c. $6,000 gain.
d. $36,000 gain.

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Simmons gives her child a gift of publicly-traded stock with a basis of $40,000 and a fair market va...

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