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USA Act Perry made a gift of a painting to Alioune five years ago when Perry had an adjusted basis of $10,000 in the painting

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Perry made a gift of a painting to Alioune five years ago when Perry had an adjusted basis of $10,000 in the painting and its value was $50,000. Perry paid gift tax of $1,000 and did not use any annual gift exclusion. Alioune sells the painting for $50,000 in 2021. How much gain or loss does Alioune realize

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