Jacques owns an apartment building which he sells to his son for $$2$ million. The FMV at the time of the sale was $$3$ million. Which of the following is true?

Group of answer choices

Jacques cannot sell the building for less than FMV$.$

Jacques has made a $$3$ million gift to his son.

Jacques has a $$1$ million long$-$term capital loss for taxes in the year of the sale.

Jacques has made a $$1$ million gift to his son.