On March 1 of the previous year, a parent sold stock with a cost of $9,000 to her child, for $6,000, its fair market value. On September 30 of the current year, the child sold the same stock for $7,500 to Jones, who is unrelated to the parent and child. What is the proper treatment for these transactions?

a. Parent has a $3,000 recognized loss and child has $1,500 recognized gain. b. Parent has $3,000 recognized loss and child has $0 recognized gain. c. Parent has $0 recognized loss and child has $0 recognized gain. d. Parent has $0 recognized loss and child has $1,500 recognized gain