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Burt Purchased stock in 2015 for $10,000. He gave the stock to his son, cliff, in 2016, when the fair market value was $7,000. Cliff

Burt Purchased stock in 2015 for $10,000. He gave the stock to his son, cliff, in 2016, when the fair market value was $7,000. Cliff later sells the stock for $6,000. What is Cliff's basis in the stock and his realized and recognized gain or loss on the sale?

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