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    Exam 1: An Introduction to Taxation and Understanding the Federal Tax Law
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    In 2012, José, a Widower, Sells Land (Fair Market Value
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In 2012, José, a Widower, Sells Land (Fair Market Value

Question 32

Question 32

True/False

In 2012, José, a widower, sells land (fair market value of $100,000) to his daughter, Linda, for $50,000.José has made a taxable gift of $50,000.

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