A parent gifted shares in a public corporation to their fifteen-year-old child.The ACB of the shares was $10,000.During the year, the child received $500 in dividends from the shares.The child then sold the shares for $12,000.Which of the following is true for the parent and child?
A)The child will recognize the dividends and capital gain on their tax return.
B)The parent will recognize the dividends on their tax return and the child will recognize the capital gain on their tax return.
C)The parent will recognize the dividends and a capital gain on their tax return.
D)The child will recognize the dividends on their tax return and the parent will recognize the capital gain on their tax return.

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The Answer of A parent gifted shares in a public corporation to their fifteen-year-old child.The ACB of the shares was $10,000.During the year, the child received $500 in dividends from the shares.The child then sold the shares for $12,000.Which of the following is true for the parent and child?
A)The child will recognize the dividends and capital gain on their tax return.
B)The parent will recognize the dividends on their tax return and the child will recognize the capital gain on their tax return.
C)The parent will recognize the dividends and a capital gain on their tax return.
D)The child will recognize the dividends on their tax return and the parent will recognize the capital gain on their tax return.

A Parent Gifted Shares in a Public Corporation to Their