Six years ago, Milo Lenz, an amateur artist, sculpted a garden gnome as a gift for his mother. This year, his mother sold the gnome on eBay for $1,200. What is the amount and character of the mother's gain?
A. No gain recognized on the sale of a personal asset.
B. $1,200 long-term capital gain.
C. $1,200 ordinary gain.
D. None of the above.
Answer: C
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