Basis of Property Acquired by Gift (LO. 7) The following gifts are received and sold in the current year: Donor's Adjusted FMV at Time of Gift Tax Selling Basis Gift Paid Price a. $100,000 $399,000 $39,900 $345,000 b. 100,000 84,300 8,430 70,400 C. 100,000 28,700 5,740 41,300 Determine the basis for gain and basis for loss and realized gain or realized loss. Enter "0" 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. $ 129,900 129,900 $ 0 b. $ 100,000 $ 84,300 $ 0 13,900 C. $ 100,000 28,700 $ 0 0