Question: DougDoug receives a duplex as a gift from his uncle. The uncle ' s basis for the duplex and land is $ 9 0 comma

DougDoug
receives a duplex as a gift from his uncle. Theuncle's basis for the duplex and land is
$ 90 comma 000$90,000.
At the time of thegift, the land and building have fair market values(FMVs) of
$ 40 comma 000$40,000
and
$ 80 comma 000$80,000,
respectively. No gift tax is paid by
Doug'sDoug's
uncle at the time of the gift

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