Connell purchased 300 shares of Zooco stock for $31,000, 20 years ago. On May 23 of the current year, Connell sold all the stock to his sister Anna for $22,000, its then fair market value. Connell realized no other gain or loss during the year. On July 26 of the current year, Anna sold the 300 shares of Zooco for $26,000.

What was Anna's recognized gain or loss on her sale?

No gain or loss recognized

$4,000 long-term gain

$5,000 long-term loss

$5,000 short-term loss

$4,000 short-term gain