In what year did Glen receive a gift of 200 shares of common stock worth $8,000?

The correct choice indicates that Glen received a gift of 200 shares of common stock worth $8,000 in 2016. This aligns with the typical framework of how gift tax and the timing of gifts are generally treated for tax purposes.

When analyzing the situation surrounding gifts of stock, it is important to consider the tax implications and the reporting requirements for the year in which the gift is made. Typically, the date when a gift is officially given can influence both the donor's tax responsibilities and the recipient's basis in the stock.

For Glen, if the valuation of the shares at the time of the gift was $8,000 and this occurred in 2016, it solidifies the understanding that any gains or losses from the stock’s subsequent sale would be evaluated based on that year. This includes determining the adjusted basis for Glen should he decide to sell the shares in the future. Tracking the year of receipt is crucial for establishing tax liability and ensuring accurate reporting.

Understanding the nuances of when a gift is received and how it is recorded not only helps in compliance but also assists individuals in managing their overall tax implications effectively.