In 2019, Ann received 1,000 shares of stock as a gift from her husband, Tim, who had purchased them in 2010. At the time of the gift, the FMV of the stock was $29,300 and Tims basis was $31,000. If Ann sells the stock for $26,834 in 2019, what is the nature and amount of the loss from the sale?

Multiple Choice

• $2,466 short-term loss.

• $1,700 long-term loss.

• $4,166 long-term loss.

• $2,466 short-term loss and $1,700 long-term loss.