2 . Father had some land that he had purchased for $ 1 0 0 , 0...
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Question:
Father had some land that he had purchased for $ but which had increased in value to $ He transferred it to Daughter for $ in cash in a transaction properly identified as in part of a gift and in part a sale. Assume no gift tax was paid on the transfer.
What gain to Father and what basis to Daughter under Rege and a
Suppose the transactions were viewed as a sale of onehalf of the land for full consideration and an outright gift of the other one half. How would this affect Fathers gain and Daughters basis? Is it a more realistic view than that of the Regulations? Cfe and b relating to bargain sales to charities.
Related Book For
Concepts In Federal Taxation 2017
ISBN: 9781305965119
24th Edition
Authors: Kevin E. Murphy, Mark Higgins
Posted Date: