On June 1, 2020 Sam's grandmother gave him a gift of 500shs of Stock SDF. Sam's grandmother bought the stock on January 10, 2014 for $75,000. On the date of the gift the stock was worth (FMV) $50,000. Under the following three independent scenarios, what is Sam's gain or loss recognized and the character of the gain or loss (Short-term or Long-term)? Assume Sam sells all shares of the stock on July 1, 2020 for: 1. $100,000 2. $40,000 3. $60,000