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In 2020, Ivana received a vacant parcel of land from her uncle as a gift. Ivanas uncle purchased the land in 2005 for $15,000, and
In 2020, Ivana received a vacant parcel of land from her uncle as a gift. Ivanas uncle purchased the land in 2005 for $15,000, and at the time of the gift, the land had a fair market value of $13,000. Ivana did not have any other events that increased or decreased her basis in the gift after she received it. What is her gain if she sold her property for $17,000?
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A.$4,000 gain.
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B.$3,000 gain.
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C.$2,000 gain.
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D.$0 gain.
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