Wilson received a gift of property during the year. The donor's basis in the property on the

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Wilson received a gift of property during the year. The donor's basis in the property on the date of the gift was $12,000. The fair market value at the time of the gift was $14,000. Wilson subsequently sold the property for $25,000

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Wilson received a gift of property during the year. The donor's basis in the property on the

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