On the first business day in January, Jacob gave his wife Anna $10,000. She then bought shares in a well-known technology company. If she sells the shares by mid-year for $12,500, what is the correct taxable consequence?

Jacob will have a taxable capital gain of $1,250.

Anna will have a taxable capital gain of $1,250.

Anna and Jacob will both have a taxable capital gain of $1,250.

There will be no tax consequence from disposition