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In 2013, Bob Brown's aunt Barbara gave him a house. At the time of the gift, the house had a fair market value of
In 2013, Bob Brown's aunt Barbara gave him a house. At the time of the gift, the house had a fair market value of $194,000 and his aunt's adjusted basis was $74,000. In 2014, Bob sells the house for $204,000. How much gain does Bob recognize? O s204.000 $10,000 O $130,000
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
