Question: Merle gives stock to her son Marvin The stock has

Merle gives stock to her son Marvin. The stock has a basis to Merle of $200,000 and a value of $180,000 on the date of the gift. No gift tax was incurred on the transfer. What are Marvin’s income tax consequences if he later sells the stock for:
a. $170,000?
b. $190,000?
c. $210,000?

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  • CreatedSeptember 09, 2015
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