. In 2020, Poison Ivy, a 70% shareholder in her business, sells a stock investment in her portfolio with a basis of $13,000 to her corporation for its fair market value of $10,000. In 2022, the corporation sells the stock to an unrelated party for $13,200. Determine (1) Poison Ivy’s gain (loss) in 2020 and (2) the corporation’s gain (loss) in 2022.
A. (1) $0 (2) $200
B. (1) $0 (2) $3,200
C. (1) $0 (2) $0
D. (1) ($3,000) (2) $200
E. (1) ($3,000) (2) $3,200
