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Angelina gave a parcel of realty to Julie valued at $182,500 (Angelina purchased the property five years ago for $77,000). Required: a. Compute the amount

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Angelina gave a parcel of realty to Julie valued at $182,500 (Angelina purchased the property five years ago for $77,000). Required: a. Compute the amount of the taxable gift on the transfer, if any. b. Suppose several years later Julie sold the property for $189,400. What is the amount of her gain or loss, if any, on the sale? a. Amount of taxable gift b. Amount of gain $ 112,400

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