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Determining if she should accept the offer

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Melanie owns a sculpture that she received as a gift from her Uncle Elmer approximately 12 years ago. Her uncle is an artist and created the sculpture. Melanie has displayed the sculpture in her back yard most of the time, and her neighbor recently offered $25,000 for the sculpture. Discuss the tax issues that she may face in determining if she should accept the offer.

Reference no: EM131647454

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