Question: David receives a duplex as a gift from his uncle. The uncle's basis for the duplex and land is $ 2 2 0 , 0

David receives a duplex as a gift from his uncle. The uncle's basis for the duplex and land is $220,000. At the time of the gift, the land and building have fair market values (FMVs) of $80,000 and $120,000, respectively. No gift tax is paid by David's uncle at the time of the gift.
Read the requirements.
Requirement a. To determine gain, what is David's basis for the land? (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.)
To determine gain, David's (the donee's) basis for the land =
David receives a duplex as a gift from his uncle.

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