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which of the following is incorrect about property received as a gift ? the basis for depreciation is generally the donors adjusted basis. if gift

which of the following is incorrect about property received as a gift ? the basis for depreciation is generally the donors adjusted basis. if gift tax was paid on the gift , this will increase the basis the basis when the gift is sold at a loss is always the fmv at the time the gift was given when selling a gift , it is important to know the donors adjusted basis , the fmv at the time of the gift , and whether gift tax was paid

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