Please select the best answer for each of the following questions. Unless otherwise stated, the questions relate to the current tax year.

Question 6 3.34 pts Bob gave Sam property which Bob acquired five years ago for $100,000. At the time of the gift, the property's fair market value was $70,000. Sam subsequently sold the property for $90,000. What amount of gain or loss did Sam realize? O $30,000 gain None of the other answers are correct $10,000 loss O $0