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Teresa purchased a necklace for $100 in 1966. in 2016, Teresa gave the necklace to her granddaughter, Lindsey. at the time of the gift, the

Teresa purchased a necklace for $100 in 1966. in 2016, Teresa gave the necklace to her granddaughter, Lindsey. at the time of the gift, the necklace had an appraised calue of $850. in 2018, Lindsey sold the necklace for $1200. what is the amount and character if lindsey's gain from this sale?....$350 ordinary gain; $350 long term capital gain; $1100 ordinary gain or $1100 long term capital gain

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