Oliver gave his wife 5250000 worth of publicly traded stock, Ask an Expert

Accounting

Oliver gave his wife $5,250,000 worth of publicly traded stock in August 2013, outright. Oliver's basis in the stock was $50,000. What is the amount of the taxable gift for federal gift tax purposes? (Oliver made no other gifts to anyone in 2013).

a. 0.

b. $87,000.

c. $100,000.

d. $5,087,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M940634

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