Jordan gifted 100 shares of Runners Link common stock with a FMV of $8,000 to a sibling, Dale. The stock originally cost Jordan $11,000. Dale later sells the stock on the open market for $9,000. Dale recognizes: a $2,000 loss.
a) a $2,000 gain.
b) a $1,000 gain.
c) a $2,000 loss.
d) no gain or loss.