A taxpayer received stock in ABC company when his grandmother passed away on March 1st His grandmother had purchased the stock a month earlier for $1,200, and the stock's value in the stock market had risen to $1,400 by

March 1st. The taxpayer later sold the stock on December 15th for $1,100, what amount of gain or loss should he report?

a. 100 Gain

b. 100 Loss

c. 300 Gain

d. 300 Loss

e. 200 Gain