On 3/1/2018 Lucinda received land as a gift from her grandfather. At the time of the gift, the land had a FMV of $95,000. Her grandfather bought the land for $105,000 on 5/1/2016. The grandfather did not have any gift taxes due. On 8/1/2020. Lucinda sold the land for $101,000. What was her gain or (loss) on this transaction?

Select one:

a. ($6,000) loss

b. No gain or loss

c. $6000 gain

d. (4,000) loss