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Jackson gives his sister furniture to use in her business with a fair market value of $10,500 and a basis to Jackson of $12,500. What
Jackson gives his sister furniture to use in her business with a fair market value of $10,500 and a basis to Jackson of $12,500. What is the sister's basis for depreciation(cost recovery)?
A. $12,500
B. $10,500
C. $23,000
D. $11,500
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