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Title: Steve gave stock with an adjusted basis of $7,000 and an FMV of $10,000 to Alice. No gift tax was ... Post by: safezone on Feb 15, 2017 Steve gave stock with an adjusted basis of $7,000 and an FMV of $10,000 to Alice. No gift tax was paid. Later, Alice sold the stock for $12,000. The gain Alice will recognize on the sale is
A) $5,000. B) $2,000. C) $0. D) none of the above Title: Re: Steve gave stock with an adjusted basis of $7,000 and an FMV of $10,000 to Alice. No gift tax ... Post by: Rimoun on Feb 15, 2017 Content hidden
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