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Jos Gabriel Gonzlez makes a gift of property with a basis of $1,000 to Mara de la Luz when the property has $800 FMV. Assume

Jos Gabriel Gonzlez makes a gift of property with a basis of $1,000 to Mara de la Luz when the property has $800 FMV. Assume Mara subsequently sells the property for $1,100 or $700. What is her gain or loss?

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