Hillary received a vacation cabin as a gift from her father in 2013. Her father's adjusted basis in the cabin was $85,000 and the FMV of the cabin was $115,000 at the time of the gift. Hillary sold the cabin in 2019 for $185,000. What amount will Hillary use as a basis to figure her gain on the sale? Choose one a. $85,000, the father's adjusted basis at the time of the gift. answer. O b. $0, since she did not purchase the cabin she has no basis. c. $185,000, the FMV at the time of the sale. d. $115,000, the FMV at the time of the gift.

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