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plzz help QUESTION 30 John received a building as a gift from his grandmother. At the time of the gift the building had a FMV
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QUESTION 30 John received a building as a gift from his grandmother. At the time of the gift the building had a FMV or 542,500 and an adjusted basis of $56.000 to grandmother. The grandmother did not have any gin taxes due. Two years later, John sold the building for $40,000. What was his gain or on on this transaction $15,000 Gain $2,500 Loss O $15,000 Loss $2,500 Gain No Gain or Loss Step by Step Solution
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