Rhys purchased 50 shares of stock as an investment for the purchase price of $2,500 in 2019.
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Question:
Rhys purchased 50 shares of stock as an investment for the purchase price of $2,500 in 2019. In 2022 when the fair market value of the stock was $2,500, Rhys gave the stock to a sibling, Fiona.
What Fiona will recognize If no gift tax is paid and the stock sells for $2,750?
Related Book For
Federal Taxation 2018 Corporations, Partnerships, Estates & Trusts
ISBN: 9780134550923
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
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