Olsha gave a parcel of realty to Julle valued at $156,250 (Oisha purchased the property five years ago for $66,500). a. Compute the amount of the taxable gift on the transfer, if any. b. Suppose several years later Julle sold the property for $162,450. What is the amount of her gain or loss, if any, on the sale? a. Amount of taxable gift b. Amount of gain $ 141,250 $ 95,950

Olsha gave a parcel of realty to Julle valued at $156,250 (Oisha purchased the property five years ago for $66,500). a. Compute the amount of the taxable gift on the transfer, if any. b. Suppose several years later Julle sold the property for $162,450. What is the amount of her gain or loss, if any, on the sale? a. Amount of taxable gift b. Amount of gain $ 141,250 $ 95,950