Albert gave his nephew Aaron a pick-up truck for his 17th birthday. Albert originally paid $32,000 for the truck 5 years ago. The truck was worth $21,000 on the date of the gift and, with some work, could be worth more. Albert paid $3,000 in gift tax since he used up his gift tax lifetime exclusion earlier this year. Which of the following statements are true in relation to the gift? Question 8 options: Aarons basis will be adjusted by the gift tax paid. If Aaron sells the truck for $20,000 in 8 months, he will have a $1,000 short term capital loss. If Aaron sells the truck for $25,000 in 6 months, he will have a $4,000 short term capital gain. If Aaron sells the truck for $30,000 in three years after putting some work into it, he will have a $9,000 long term capital gain.