Boyd Bayer acquired 100 shares of Evans Corporation stock for $3,000 on January 8, 2012. He gave

Question:

Boyd Bayer acquired 100 shares of Evans stock for $3,000 on January 8, 2012. He gave the stock to his daughter Susan on January 8, 2013, when the fair market value was $2,400. On March 22, 2013, Susan sold the stock for $1,500. What are the nature and the amount of the gain or loss for Susan in 2013?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...