Basis of Property Acquired by Gift (LO. 7) The following gifts are received and sold in the current year: Gift Tax Donor's Adjusted Basis FMV at Time of Gift Selling Price Paid a. $100,000 $399,000 $39,900 $342,000 b 100,000 79,200 7,920 70,300 c. 100,000 30,200 6,040 40,500 Determine the basis for gain and basis for loss and realized gain or realized loss. Enter "o" if the field should be blank or if an amount is zero. Do not round any divisions. Basis for Gain Basis for Loss Realized Gain Realized Loss a. $ 0 b. $ 0 C. $ 0