Q.4 George purchased stock in 2016 for $20,000. He gave the stock to his son, William, in 2017. On the date of the gift the FMV of the stock was $14,500 and no gift tax was paid on the transfer. William later sold the stock for $12,700. What is William's recognize gain or loss on the sell of the stock: Q.5 For the current year, David has salary income of $125,000 and the following property transactions: Stock investment sales Long-term capital gain $ 9,000 Short-term capital loss (19,500) Gain on sale of camper (purchased 4 years ago and used for 8,000 family vacations) What is David's AGI for the current year