Multiple Choice
Dale gave property with a basis of $16,000 to Sarah when it had a FMV of $12,000.No gift taxes were due.Sarah later sold the property for $22,000 resulting in a recognized gain of
A) $0.
B) $4,000.
C) $6,000.
D) $12,000.
Correct Answer:
Verified
Correct Answer:
Verified
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