A person who receives property as a gift makes no investment to receive the property. Why is

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A person who receives property as a gift makes no investment to receive the property. Why is a basis assignment to the gift property necessary even though the donee has no investment in the property?

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Concepts In Federal Taxation

ISBN: 9780324379556

19th Edition

Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher

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Question Posted: Mar 29, 2013 02:27 AM

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A person who receives property as a gift makes no investment to receive the property. Why is

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Concepts In Federal Taxation

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