On February 5, 2012, Roberto gives stock (basis of $150,000; fair market value of $700,000) to Hattie.

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On February 5, 2012, Roberto gives stock (basis of $150,000; fair market value of $700,000) to Hattie. As a condition for receiving the stock, Hattie agrees to pay the gift tax. What are the income tax consequences to Roberto?

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South Western Federal Taxation 2014 Comprehensive Volume

ISBN: 9781285180922

37th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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Question Posted: Jan 04, 2017 06:30 AM

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On February 5, 2012, Roberto gives stock (basis of $150,000; fair market value of $700,000) to Hattie.

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Roberto has a recognized gain of 45000 Amount reali...View the full answer

South Western Federal Taxation 2014 Comprehensive Volume

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