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What is the amount of the gift

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Ann transfers ten shares of stock in XYZ, Inc. to Brad. Ann purchased the ten shares of stock for $10,000 (the adjusted basis); at the time of the transfer the stock has a fair market value of $100,000.

Problem a. Has Ann made a gift? If so, what is the amount of the gift?

Problem b. What if Ann sells the stock to Brad for $25,000?

Reference no: EM132716267

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