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Question 3 of 1 0 . What is the basis of gifted property used to calculate gain if the fair mark ess than the donor's
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What is the basis of gifted property used to calculate gain if the fair mark ess than the donor's adjusted basis?
The donor's adjusted basis on the date of the gift.
The donor's purchase price.
The FMV of the property on the date of the gift.
The lower of the donor's original purchase price or the donor's adjusted b
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