Sally had invested four year ago in 100 shares of Anton Co. for $2,000. Sally recently made a gift of those shares to her brother, Cliff. On the date of gift, the stock had a fair market value of $1,500. Within six months of receiving the shares Cliff decided to sell the stock. Which of the following statements is correct?

a. If Cliff sells the stock for $1,000, he will have a long-term capital loss b. If Cliff sells the stock for $850, he will have a short-term capital loss c. If Cliff sells the stock for $2,500, he will have a short-term capital gain d. If Cliff sells the stock for $2,000, he will have a long-term capital gain