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What margo basis for a gain is

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Reference no: EM132826342

Margo receives a gift of real estate with an adjusted basis of $175,000 and a fair market value of $100,000. The donor paid gift tax of $15,000 on the transfer.

Problem 1: Margo's basis for a gain is

Problem 2: If Margo later sells the property for $110,000, her recognized gain or loss is

Reference no: EM132826342

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