Merle gives stock to her son Marvin. The stock has a basis to Merle of $200,000 and
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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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Related Book For 
South Western Federal Taxation 2016 Corporations Partnerships Estates And Trusts
ISBN: 9781305399884
39th Edition
Authors: James Boyd, William Hoffman, Raabe, David Maloney, Young
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