Answered: If Deshaun gifts his niece $100,000 in…

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If Deshaun gifts his niece $100,000 in stock which he bought for $25,000, what is his niece's basis?

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter20: Corporations And Partnerships

Section: Chapter Questions

Problem 28CE

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Question

If Deshaun gifts his niece $100,000 in stock which he bought for $25,000, what is
his niece's basis?
$0
$25,000
$100,000
$15,000

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