In 2010 tina turnips gave property with an adjusted basis, Ask an Expert

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In 2010, Tina Turnips gave property with an adjusted basis of $63,000 to Sally when the fair market value was $163,000. Gift taxes paid on the property were $30,000, and the taxable gift was $150,000. What is the adjusted basis of the property to Sally?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9443840

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