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Alex Sells Land with an Adjusted Basis of $73,000 and a Fair

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Alex sells land with an adjusted basis of $73,000 and a fair market value of $64,000 to his mother,Sybil,for $64,000.Sybil holds the land for one year and a day and sells it in the marketplace for $72,000.
Alex sells land with an adjusted basis of $73,000 and a fair market value of $64,000 to his mother,Sybil,for $64,000.Sybil holds the land for one year and a day and sells it in the marketplace for $72,000.

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