In the current year, Alex sold stock that had been given to her by her aunt, Nell. Nell purchased the stock 5 years ago and had a basis of $4,000. The stock had a fair market value of $2,000 when she gave it to Alex. Alex held on to the stock for 3 months before selling it for $1,800. Which of the following statements is correct regarding the tax treatment on the sale of the stock? a. Alex will have no gain or loss on the sale. b. Alex will recognize a short-term capital loss of $200. c. Alex will recognize a long-term capital loss of $200 d. Alex will recognize a long-term capital loss of $2,200. e. Alex will recognize a short-term capital loss of $2,200