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Author Question: David gave property with a basis of $133,000 to Hannah when the property had a FMV of $100,000 and ... (Read 60 times)

EY67

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on: Sep 13, 2020

Question 1

Dale gave property with a basis of $16,000 to Sarah when it had a FMV of $12,000. No gift taxes were due.  Sarah later sold the property for $22,000 resulting in a recognized gain of
◦ $0.
◦ $4,000.
◦ $6,000.
◦ $12,000.

Question 2

David gave property with a basis of $133,000 to Hannah when the property had a FMV of $100,000 and paid gift taxes of $8,000. If Hannah later sells the property for $140,000, Hannah's basis (to determine gain) in the property immediately before the sale is
◦ $100,000.
◦ $108,000.
◦ $133,000.
◦ $141,000.
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by EY67 on Sep 13, 2020

bulacsom

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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EY67

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Reply 2 on: Sep 13, 2020
Thanks for the timely response, appreciate it

helenmarkerine

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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