Under the terms of their divorce agreement tom transferred

Reference no: EM13599113

Under the terms of their divorce agreement, Tom transferred Google stock to his former wife Tammy, as a property settlement. At the time of the transfer, the stock had a basis to Tom of $35,000 and a fair market value of $40,000. What is the tax consequence to Tom and what is Tammy's basis in the stock?

Reference no: EM13599113

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