Question - In January 2015 Ralph gives his daughter, Angela, stock (basis of $8,000; fair market value of $6,000). Ralph had purchased the stock in 2013. In December 2015 Angela sells the stock to an unrelated person for $10,000. What is Angela's recognized gain?
a. $2,000 long-term capital gain
b. $4,000 short-term capital gain
c. $2,000 short-term capital gain
d. $4,000 long-term capital gain