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True or False? Thomas will receive this car with a carryover basis from In 2018 Jamie gave a 1968 Plymouth Roadrunner to his nephew, Thomas

True or False? Thomas will receive this car with a carryover basis from

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In 2018 Jamie gave a 1968 Plymouth Roadrunner to his nephew, Thomas on Thomas's 16th birthday. Jamie paid $15,000 for the car in 1997 and spent an additional $40,000 restoring the car before donating it. The FMV on the date of donation was $52,000. Thomas will receive this car with a carryover basis from Jamie

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