5. This time Denise makes a gift of capital gain property with a cost basis of $2,000 to Ellen when the property had a $1,000 Fair Market Value at the time of the gift. If Ellen later sells the property for $600, she has: A. a realized loss of $400. B. a realized loss of $1,400. No gain or loss because gifts are not taxable. C. D a realized loss of $1,000 6. The following items do not fall within the tax definition of a capital asset except: A. Accounts or notes receivable. B. Supplies of a type regularly used or consumed in the ordinary course of a trade or business C. Inventory or other property held for sale to customers in the ordinary course of a trade or business. D. Stock of a publicly held company