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In 2019, Bobby sold land with a fair market value of $70,000 to his daughter Joan for $20,000. How much of a taxable gift has

In 2019, Bobby sold land with a fair market value of $70,000 to his daughter Joan for $20,000. How much of a taxable gift has Bobby made? Assume Bobbys wife does not join him in marital splitting for this gift and ignore any unified transfer tax credit Bobby may be entitled to.

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