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    Business
  3. Study Set
    Individual Taxation
  4. Exam
    Exam 14: Property Transactions: Basis Determination and Recognition of Gain or Loss
  5. Question
    The General Rule to Determine the Basis of Property Acquired
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The General Rule to Determine the Basis of Property Acquired

Question 26

Question 26

True/False

The general rule to determine the basis of property acquired by gift is that the donee's basis is equal to the donor's basis plus any gift taxes paid.

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