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What is Davids basis for the stock

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Reference no: EM132550347

Question - David received a gift of stock from Ted this year when it was worth $24,000. Ted purchased the stock for $18,000 five years ago and paid $2,000 of gift taxes on the gift. What is David's basis for the stock?

Reference no: EM132550347

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What is Davids basis for the stock : Ted purchased the stock for $18,000 five years ago and paid $2,000 of gift taxes on the gift. What is David's basis for the stock
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