Question: When does the dual basis rule apply? When the donor's basis in the asset is less than the FMV of the gifted asset on the

When does the dual basis rule apply?
When the donor's basis in the asset is less than the FMV of the gifted asset on the date of the gift.
When the donor's basis in the asset is greater than the FMV of the gifted asset on the date of the gift.
When does the dual basis rule apply? When the

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