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Seller's Recognized Gain/Loss Buyer's Adjusted Basis a. Kiera sells Parchment, Inc. stock (adjusted basis $39,500) to Phillip, her brother, for its fair market value of $13,200. b. Amos sells land (adjusted basis $86,600) to his nephew, Boyd, for its fair market value of $32,200. $ c. Susan sells a tax-exempt bond (adjusted basis $38,800) to her wholly owned corporation for its fair market value of $17,700. LLL d. Sinbad sells a business truck (adjusted basis $15,600) that he uses in his sole proprietorship to his cousin, Agnes, for its fair market value of $3,800. $ e. Martha sells her partnership interest (adjusted basis $174,900) in Pearl Partnership to her adult daughter, Kim, for $245,800