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What is the donees basis for purposes of determining loss

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Reference no: EM132488978

Question 1: Donor made a gift of property to donee. At the time of the gift, the donor had a $90,000 basis in the property, the property had a fair market value equal to $80,000, and the donor paid gift tax of $10,000 with respect to the gift. If the donee sells the property for $75,000, the donee's basis for purposes of determining loss is equal to

Reference no: EM132488978

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