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In 2010, Norma purchased 100 shares of XyZ stock as an investment. The stock cost $10,000. In 2013, when the fair market value was $12,000,

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In 2010, Norma purchased 100 shares of XyZ stock as an investment. The stock cost $10,000. In 2013, when the fair market value was $12,000, Norma gave the stock to her daughter, Lydia. No gift tax was paid. If Lydia sells the stock for $13,000, Lydia will recognize

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