Save Artswe Cathy received a gift from Darren on June 15 of this year that had a FMV of $25,000. Darren's adjusted basis in the asset was $20,000, and he paid a gift tax on the transfer of $600. What is the amount of Cathy's basis? Appreciation in the Property Increase in Basis for FMV of Property at Date of Gift X Gift Tax Paid Donee For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac).