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15) Rory gifted 500 shares of X Co. that originally cost $19 to their child. At the time of the gift the fair market
15) Rory gifted 500 shares of X Co. that originally cost $19 to their child. At the time of the gift the fair market value (FMV) of the shares was $28 per share. What amount must Rory include in taxable income? A) SO B) $2,250 C) $3,000 D) $4,500
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