79. Carol received a gift of stock from her favorite uncle. The stock had a fair market...

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79. Carol received a gift of stock from her favorite uncle. The stock had a fair market value of $30,000 and a basis to the uncle of $10,000 at the date of the gift. How much is taxable to Carol from this gift? In answering this case, use only the Internal Revenue Code for your research. Computer search keywords: gift, gross income, exclusion

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Federal Tax Research

ISBN: 9780324659658

8th Edition

Authors: William A. Raabe, Gerald E. Whittenburg, Debra L. Sanders

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