Question 3 (3 points) Saved In 2011, Avery bought gold necklace for her own use at a cost of $8,000. In 2018 when the fair market value of the gold necklace was $10,000, Avery gave this necklace to her daughter Bella. Later in 2018, Bella sold the necklace for 10,500. What is Bella's taxable gain for the sale of the necklace ? $500 short-term capital gain $500 long-term capital gain $2,000 long-term capital gain $2,500 long-term capital gain Question 5 (3 points) On June 20th of the current year, Richard received 100 shares of stock as an inheritance from his uncle who died on January 20 this year. His uncle's adjusted basis in the stock was $45,000. The stock had a fair market value of $55,000 on January 20. On the date Richard received it (June 20), its value was $68,000. Richard's basis in the inherited stock is 45,000 55,000 68,000 None of the above Question 3 (3 points) Saved In 2011, Avery bought gold necklace for her own use at a cost of $8,000. In 2018 when the fair market value of the gold necklace was $10,000, Avery gave this necklace to her daughter Bella. Later in 2018, Bella sold the necklace for 10,500. What is Bella's taxable gain for the sale of the necklace ? $500 short-term capital gain $500 long-term capital gain $2,000 long-term capital gain $2,500 long-term capital gain Question 5 (3 points) On June 20th of the current year, Richard received 100 shares of stock as an inheritance from his uncle who died on January 20 this year. His uncle's adjusted basis in the stock was $45,000. The stock had a fair market value of $55,000 on January 20. On the date Richard received it (June 20), its value was $68,000. Richard's basis in the inherited stock is 45,000 55,000 68,000 None of the above