Multiple Choice
Diane receives a gift of stock from Sue on July 2,2016,when the stock was trading for $20,000.Sue paid $4,000 for the stock several years ago.Sue pays a gift tax of $500 on the transfer.Diane's basis in the stock is:
A) $4,000
B) $4,100
C) $4,400
D) $20,000
E) $20,400
Correct Answer:
Verified
Correct Answer:
Verified
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