On January 25, 2020, Jeff sold some of his stocks to his sister, Jenny, for $400,000 a FMV. Jeff bought the stocks on February 15, 2019 for $500,000. On October 20, 2020, Jenny sold the stocks for $450,000. What are the recognized gains or losses fo Jeff and Jenny? $0 recognized gains (losses) for both Jeff and Jenny. $0 recognized gains (losses) for Jeff; $50,000 recognized gain fr Jenn. $100,000 recognized loss for Jeff; $50,000 recognized gain for Jenny. $100,000 recognized loss for Jeff; $50,000 recognized loss for Jenny. Next Page