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24. Lucy and her husband Linus are getting divorced. They jointly own a piano worth $100,000 in which they have a basis of $15,000. Lucy

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24. Lucy and her husband Linus are getting divorced. They jointly own a piano worth $100,000 in which they have a basis of $15,000. Lucy gives up her half interest in the piano. Has Lucy made a gift to Linus? Does Linus have income as a result of receiving the piano? Why or why not? What is Linus's tax basis in the piano? a) b) c)

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