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4 Several years ago Doug invested $43,000 in stock. This year he gave his daughter Tina the stock on a day it was valued at
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Several years ago Doug invested $43,000 in stock. This year he gave his daughter Tina the stock on a day it was valued at $39700 She promptly sold it for $37,300. Assume Doug is not married and does not support Tina, who is 28. Required: a. Determine the amount of the taxable gift b. Calculate the amount of taxable gain or loss, if any, for Tina. a. Amount of taxable gift b Step by Step Solution
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