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In the current year K gifted shares of a public corporation to his wife. The shares, that originally cost $10,000, had a value of $15,000
In the current year K gifted shares of a public corporation to his wife. The shares, that originally cost $10,000, had a value of $15,000 at the time of the gift. During the year, K's wife received a dividend of $200 from the shares. What amount, if any, is included in K's net income for tax purposes in the current year?
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