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help please Exercise 13-31 (Algorithmic) (LO. 3) Juliana purchased land three years ago for $106,300. She gave the land to Tom, her brother, in the
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Exercise 13-31 (Algorithmic) (LO. 3) Juliana purchased land three years ago for $106,300. She gave the land to Tom, her brother, in the current year, when the fair market value was $148,820. No gift tax is paid on the transfer. Tom subsequently sells the property for $133,938. 2. Tom's basis in the land is and he has a realized of s b. Assume, instead, that the land has a fair market value of $95,670 and that Tom sold the land for $90,887 Tom's basis in the land is and he has a realized of ghin loss Step by Step Solution
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