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Rhoda's uncle gave her 100 shares of Abacus, Inc., common stock. The fair market value of the stock on the date of the gift was
Rhoda's uncle gave her 100 shares of Abacus, Inc., common stock. The fair market value of the stock on the date of the gift was $180 per share. Rhoda's uncle had purchased the stock three years earlier at $210 per share. Rhoda sold her holdings of the stock for $200 per share three weeks ago. What was Rhoda's gain or loss on the sale of the stock?
A)
($1,000)
B)
$21,000
C)
$2,000
D)
$0
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