Virginia Gave Stock with an Adjusted Basis of $8,000 and an FMV

question 45

Multiple Choice

Virginia gave stock with an adjusted basis of $8,000 and an FMV of $10,000 to Carmen. No gift tax was paid on the transfer. Carmen then sold the stock for $9,000. The gain or loss Carmen will recognize on the sale is

• A)$2,000 gain.
• B)$1,000 gain.
• C)$1,000 loss.
• D)none of the above

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Definitions:

Withdrawal Stage

A phase in which an individual begins to disengage from their job or organizational roles, often preceding resignation.

Mentoring

A process in which an experienced individual provides guidance, advice, and support to a less experienced person.

Job Training

Education or instruction in the skills and knowledge necessary to perform a specific job or task.

Career Stage Model

A framework describing the phases individuals go through during their working life, typically including entry, growth, maturity, and decline stages.