Gary makes a gift of an appreciated building to Carmen. She dies three months later, and Gary

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Gary makes a gift of an appreciated building to Carmen. She dies three months later, and Gary inherits the building from her. During the period Carmen held the building; she deducted depreciation and made a capital expenditure. What effect might these items have on Gary's basis for the inherited building?
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South Western Federal Taxation 2014 Comprehensive Volume

ISBN: 9781285180922

37th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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