Section 1015 basis of property received as a gift is the basis of the property in the hands of the donee is the same as the basis in the property in the hands of the donor. There is a deferral of the gain in with the appreciation attributable to the time it is in the hands of the donor.

T receives a gift from an uncles detached and disinterested generosity. Ts uncle has a basis in the property of $70,000 and the FMV of the property at the time of the gift is $100,000. T sells the property for $100,000. What is the gain?

Same T and same uncle, same motivation, but the uncles basis is $120,000 and the FMV at the time is $100,000. T sells the property for $130,000. What is the gain?

Same T and same uncle, same motivation, but the sale price is $90,000.

Same T and same uncle, same motivation, but the sales price is $115,000.

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Same T and same uncle, same motivation, but the sales price is $100,000.

Same T and same uncle, same motivation, but the sales price is $120,000