Canary, Inc., sold a forklift on February 12, 2018, for $3,000 (its FMV) to its 100% shareholder, Meredith. Canary's adjusted basis for the forklift was $7,000. Meredith's holding period for the forklift:
a.Begins on January 1, 2019.
b.Does not begin until Meredith sells the forklift.
c.Begins on February 12, 2018.
d.Includes Canary's holding period for the forklift.
e.Begins on February 13, 2018.