Question: On July 2 5 , 2 0 2 2 , Karen gives stock with an FMV of $ 6 , 1 4 0 to her

On July 25,2022, Karen gives stock with an FMV of $6,140 to her nephew Bill. Karen had purchased the stock for $8,190 on March 18,2022. Bill sold the stock on April 18,2023, for $5,280. As a result of the sale,Bill must reporton his 2023 tax return

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