Braeden received 800 shares of Iowa Corporation stock from his uncle as a gift on July 20, 2018, when the stock had a $160,000 FMV. His uncle paid $80,000 for the stock on April 12, 2002. The taxable gift was $160,000, because his uncle made another gift to Braeden for $25,000 in January and used the annual exclusion. The uncle paid a gift tax of $32,000. Without considering the transactions below, Braeden's AGI is $55,000 in 2019. No other transactions involving capital assets occur during the year. Read the requirement. a. b. C. AGI prior to sale of stock Gain (loss) on sale of stock = AGI = =