Jack sold 100 shares of stock to his sister, Jill, in Year 1 for $750. Jack had purchased the stock several years ago for $1,000. A B 1 What is Jack's gain or loss realized on the sale? ($250) 2 What amount of gain or loss does Jack recognize on the sale? $0 3 What amount of gain or loss does Jill recognize on the sale? $0 4 What is Jill's basis in the stock acquired from Jack