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Barbara sold 100 shares of STP Company stock to her daughter, Doris, for $7,000. The stock originally cost Barbara $10,000. Doris later sells the stock
Barbara sold 100 shares of STP Company stock to her daughter, Doris, for $7,000. The stock originally cost Barbara $10,000. Doris later sells the stock on the open market for $8,000. Doris recognizes:
A. No gain or loss.
B. $1,000 gain. (I know this answer to be incorrect from exam results already)
C. $2,000 gain.
D. $3,000 loss.
E. $2,000 loss.
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