Seth Joseph received a gift of land on October $13,$ Year $2,$ when its fair market value was $$25,000.$ No gift tax was paid on the transfer. The donor purchased the land for $$30,000$ cash on August $30,$ Year $1,$ and made no improvements to it$.$ Both Seth and the donor held the land for investment. Seth sold the land for $$22,000$ cash on October $21,$ Year $2.$ What are the amount and the character of gain or loss that Seth must report for his Year $2$ calendar tax year?

A$.$

$$3,000$ long$-$term capital loss.

B$.$

$$8,000$ short$-$term capital loss.

C$.$

$$8,000$ long$-$term capital loss.

D$.$

$$3,000$ short$-$term capital loss.