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Ralph gives his daughter, Angela, stock (basis of $8,000; fair market value of $6,000). No gift tax results. If Angela subsequently sells the stock for

Ralph gives his daughter, Angela, stock (basis of $8,000; fair market value of $6,000). No gift tax results. If Angela subsequently sells the stock for $7,000, what is Angelas recognized gain or loss?

a. $0 b. $2,000 c. $4,000 d. $10,000 e. None of the above

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