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7.When the recipient sells a gift for a gain, the basis for a non-cash gift is generally a.the value of the gift at the time

7.When the recipient sells a gift for a gain, the basis for a non-cash gift is generally

a.the value of the gift at the time of the transfer

b.dependent on the type of property that was gifted

c.the value of the gift at the end of the year in whichthe transfer occurred

d.the transferor's basis

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