On July 25,2013,Marilyn Gives Stock with a FMV of $7,500

question 74

Multiple Choice

On July 25,2013,Marilyn gives stock with a FMV of $7,500 and a basis of $5,000 to her nephew Darryl.Marilyn had purchased the stock on March 18,2013.Darryl sold the stock on April 18,2014 for $7,800.As a result of the sale,what will Darryl report on his 2014 tax return?

• A)$300 STCG
• B)$300 LTCG
• C)$2,800 STCG
• D)$2,800 LTCG

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Definitions:

Self-assertion

The action of confidently and forcefully expressing one's opinions, needs, and rights without infringing on the rights of others.

Separateness

The state or condition of being distinct, separate, or not connected.

Mutuality

The quality or condition of reciprocal agreement or support within a relationship.

Ethnic Identity

An enduring aspect of the self that includes a sense of membership in an ethnic group, along with the attitudes and feelings related to that membership.